An Act modernizing protections for consumers in automobile transactions
House: Read; and referred to the committee on House Ways and Means
Summary
The bill revises several motor‑vehicle statutes, replacing the term “sale” with “delivery,” setting mileage‑based warranty periods for used cars, and raising the bond claim limit to $50,000. It also redefines key terms like “holder,” “lease,” and “retail instalment contract,” and creates a standardized notice process that limits how quickly creditors can act after a buyer defaults. The changes aim to make auto transactions clearer and give consumers more time and information to cure defaults.
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