RS 1801 - Condition for sale of used motor vehicles; "title only" pawn transactions prohibited
A. Notwithstanding any other provisions of the law to the contrary, except where a pawnbroker possesses a valid used motor vehicle dealer's license issued pursuant to R.S. 32:771 et seq., he shall not sell a used motor vehicle which he possesses or which he displays for sale except to one of the following:
(1) A used motor vehicle dealer.
(2) A purchaser through a regular used motor vehicle auction.
(3) A purchaser through a used motor vehicle dealer.
B. The terms "used motor vehicle" and "used motor vehicle dealer" as used in this Section shall have the meaning ascribed in R.S. 32:771.
C. Repealed by Acts 1995, No. 758, §2, eff. June 27, 1995.
D. Under no circumstances shall the practice commonly referred to as motor vehicle "title only" pawn transactions be allowed in this state. Every motor vehicle subject to a pawn transaction shall be stored at the business location at which the transaction occurred or at any other location in this state secured or maintained by the pawnbroker.
Acts 1993, No. 391, §1, eff. Sept. 1, 1993; Acts 1995, No. 758, §2, eff. June 27, 1995; Acts 1995, No. 1062, §1, eff. June 29, 1995.