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Section 11729 Of Article 1. Issuance Of Licenses And Certificates To Manufacturers, Transporters, And Dealers From California Vehicle Code >> Division 5. >> Chapter 4. >> Article 1.
11729
. (a) Except as provided in subdivision (b), any dealer
engaging in a consignment with an owner not licensed as a dealer,
manufacturer, manufacturer branch, distributor, or a distributor
branch licensed under this code, and the consignment is not otherwise
prohibited by this code, shall execute a consignment agreement as
prescribed by Section 11730. The failure of a dealer, when required
under this section, to complete and comply with the terms of the
prescribed consignment agreement for any vehicle which the dealer
agrees to accept on consignment, or to pay the agreed amount to the
consignor or his or her designee within 20 days after the date of
sale of the vehicle, is cause for suspending or revoking the license
of the dealer under paragraph (10) of subdivision (a) of Section
11705.
(b) (1) A dealer conducting retail auction sales on behalf of a fleet owner shall execute a consignment agreement applicable to all vehicles consigned for sale during the term of the agreement which contains, at a minimum, substantially all of the terms, phrases, conditions, and disclosures required by Section 11730, except the following are not required:
(A) The description of a specific vehicle by year, make, identification number, license, state, or mileage.
(B) The information contained in paragraph (4) of subdivision (b) of Section 11730.
(2) If mutually agreeable, in lieu of the requirements of paragraph (7) of subdivision (b) of Section 11730, the consignor may provide the documents necessary to transfer the ownership of the vehicle to the consignee prior to the auction being held.
(3) For purposes of this subdivision, "fleet owner" is either of the following:
(A) A person who is the registered or legal owner of 25 or more vehicles registered in this state and is the owner, as recorded in the department's records, of the vehicles consigned for sale to the dealer.
(B) A bankruptcy trustee who owns or has legal control of the vehicles consigned for sale to the dealer, government agency, or financial institution.
(b) (1) A dealer conducting retail auction sales on behalf of a fleet owner shall execute a consignment agreement applicable to all vehicles consigned for sale during the term of the agreement which contains, at a minimum, substantially all of the terms, phrases, conditions, and disclosures required by Section 11730, except the following are not required:
(A) The description of a specific vehicle by year, make, identification number, license, state, or mileage.
(B) The information contained in paragraph (4) of subdivision (b) of Section 11730.
(2) If mutually agreeable, in lieu of the requirements of paragraph (7) of subdivision (b) of Section 11730, the consignor may provide the documents necessary to transfer the ownership of the vehicle to the consignee prior to the auction being held.
(3) For purposes of this subdivision, "fleet owner" is either of the following:
(A) A person who is the registered or legal owner of 25 or more vehicles registered in this state and is the owner, as recorded in the department's records, of the vehicles consigned for sale to the dealer.
(B) A bankruptcy trustee who owns or has legal control of the vehicles consigned for sale to the dealer, government agency, or financial institution.
