House Bill 2268 amends various sections of the Tennessee Code Annotated related to public automobile auctions. The bill redefines "public automobile auction" to clarify that it involves a licensed motor vehicle dealer offering vehicles to the highest bidder from the public, without restricting participation to licensed dealers or their agents. Additionally, it mandates that public automobile auctions must obtain and display valid licenses from both the Tennessee motor vehicle commission and the Tennessee auctioneer commission.

Furthermore, the bill stipulates that public automobile auctions must take possession of and retain the title to each vehicle offered for sale. Upon finalizing a sale, the auction must ensure the title is signed over to them and then delivered to the buyer. If a vehicle does not sell, the unsigned title must be returned to the original owner. The auction is recognized as the seller of the vehicle, bearing the same responsibilities as other licensed motor vehicle dealers.

Statutes affected:
Introduced: 62-19-101(10), 62-19-101, 62-19-128(b)(9), 62-19-128, 62-19-128(b)(10), 62-19-128(f), 55-17-102(19), 55-17-102