Texas Transportation Code

§ 501.091 — DEFINITIONS

TN § 501.091Title 7. VEHICLES AND TRAFFIC · Part A. CERTIFICATES OF TITLE AND REGISTRATION OF VEHICLES · Ch. 501. CERTIFICATE OF TITLE ACT · Art. E. NONREPAIRABLE AND SALVAGE MOTOR VEHICLES

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In this subchapter:

(1)"Actual cash value" means the market value of a motor vehicle.

(2)"Casual sale" means the sale by a salvage vehicle dealer or an insurance company of five or fewer nonrepairable motor vehicles or salvage motor vehicles to the same person during a calendar year, but does not include:

(A)a sale at auction to a salvage vehicle dealer;

(B)a sale to an insurance company, out-of-state buyer, or governmental entity; or

(C)the sale of an export-only motor vehicle to a person who is not a resident of the United States.

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Legislative history

Acts 2005, 79th Leg., Ch. 567 (H.B. 1350), Sec. 1, eff. September 1, 2005. Acts 2009, 81st Leg., R.S., Ch. 783 (S.B. 1095), Sec. 8, eff. September 1, 2009. Acts 2009, 81st Leg., R.S., Ch. 933 (H.B. 3097), Sec. 4.08, eff. September 1, 2009. Acts 2011, 82nd Leg., R.S., Ch. 1296 (H.B. 2357), Sec. 36, eff. January 1, 2012. Acts 2017, 85th Leg., R.S., Ch. 969 (S.B. 2076), Sec. 16, eff. September 1, 2017.