(1) This part does not require licensure of, or restrict or prohibit a financial institution, as defined in 32-6-103:
- (a) in the selling of collateral repossessed on default of a loan made by the financial institution;
- (b) in the conduct of a motor vehicle sales promotion in affiliation with one or more licensed dealers; or
- (c) in the conduct of a motor vehicle sales promotion in affiliation with a person regularly engaged in a bona fide vehicle rental business if the purpose of the sale is to dispose of used motor vehicles used in the rental business.
- (2) This part does not require licensure of an auctioneer whose business consists primarily of the sale of personal property other than motor vehicles.
- (3) This part does not require licensure of a licensed real estate broker or agent lawfully buying, selling, exchanging, taking on consignment, or acting as a broker of mobile homes.
History: En. Sec. 2, Ch. 523, L. 1989; amd. Sec. 27, Ch. 409, L. 1999.