{"data":{"id":"us-tx/tex.-transportation-code-503.040","jurisdiction":"us-tx","citation":"Tex. Transportation Code § 503.040","heading":"SALES OF CERTAIN USED MOTOR VEHICLES CONSTITUTE PRIVATE DISPOSITION.","body":"(a) This section applies only to the sale of a used motor vehicle that constitutes collateral by a secured party acting under Chapter 9, Business \u0026 Commerce Code, and occurs at an auction conducted by an independent motor vehicle dealer:\n(1) at which neither the debtor nor the secured party is permitted to bid; and\n(2) for which there has been no advertisement or public notice before the sale that specifically describes the collateral to be sold, other than the inclusion of the motor vehicle in a list of the vehicles to be offered at the auction made available to potential bidders at the auction.\n(b) The sale of the used motor vehicle constitutes a private disposition for purposes of Chapter 9, Business \u0026 Commerce Code.\nAdded by Acts 2009, 81st Leg., R.S., Ch. 836 (S.B. 1827), Sec. 1, eff. September 1, 2009.","path":["TRANSPORTATION CODE","TITLE 7. VEHICLES AND TRAFFIC","SUBTITLE A. CERTIFICATES OF TITLE AND REGISTRATION OF VEHICLES","CHAPTER 503. DEALER'S AND MANUFACTURER'S VEHICLE LICENSE PLATES","SUBCHAPTER B. GENERAL DISTINGUISHING NUMBER"],"source_url":"https://statutes.capitol.texas.gov/Docs/TN/htm/TN.503.htm#503.040","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:44Z","sha256":"70b930051e93631f322eff465d859070570724da3bfbf07da1345efd78b5bd94","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-transportation-code-503.039","next":"us-tx/tex.-transportation-code-503.061"},"notice":"GroundRules: Original legal text. Not legal advice."}