Texas Occupations Code 2302.009 – Applicability of Chapter to Certain General Distinguishing Number Holders
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Terms Used In Texas Occupations Code 2302.009
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
This chapter applies to the holder of an independent motor vehicle dealer’s general distinguishing number issued under Chapter 503, Transportation Code, in the same manner as this chapter applies to a salvage vehicle dealer if the holder of the general distinguishing number:
(1) acts as a salvage vehicle dealer or rebuilder; or
(2) stores or displays a motor vehicle as an agent or escrow agent of an insurance company.