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TITLE 43TRANSPORTATION
PART 10TEXAS DEPARTMENT OF MOTOR VEHICLES
CHAPTER 221SALVAGE VEHICLE DEALERS, SALVAGE POOL OPERATORS AND SALVAGE VEHICLE REBUILDERS
SUBCHAPTER BLICENSING
RULE §221.19Change of License Holder's Name or Ownership

(a) A license holder shall notify the department to amend its license within 10 days of a change in the license holder's business name. Upon submission of an amendment to change the business name, the department shall reflect the new business name in the department's records. The dealer shall retain the same salvage vehicle dealer license number except if the business name change is the result of a change in the type of entity being licensed, such as a sole proprietorship becoming a corporation, or if the ownership of the business changes as discussed in subsection (c) of this section.

(b) A salvage vehicle dealer shall notify the department by submitting a request for license amendment 10 days prior to a change of ownership.

(c) Upon notification of a change of more than 50% of the ownership, the department shall:

  (1) cancel the existing license and any salvage dealer agent licenses authorized by the salvage vehicle dealer; and

  (2) require that an original application and required fees be submitted by the new owner(s). Any of the new owners' salvage vehicle agents must also apply for a new license and submit the applicable fees.


Source Note: The provisions of this §221.19 adopted to be effective December 9, 2015, 40 TexReg 8802

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