Published: March 02, 2010
Insurance Auto Auctions Joint Effort Results in Amending Texas Legislation
WESTCHESTER, Ill. - (BUSINESS WIRE) - Insurance Auto Auctions, Inc. the leading hybrid model salvage auto
auction company today announced their active participation in amending
Texas Senate Bill 1095. Insurance Auto Auctions successfully amended a
provision to Bill 1095 that specifies salvage dealers and insurance
companies that deal in used auto parts will not be required to be
licensed as auto recyclers as long as the sale of used parts is
incidental to the salvage dealer or insurance company's business.
Additionally, IAA recommended that the definition of a salvage dealer in
the proposed rule match the definition of a salvage dealer in the code.
The final version of the rule was published on January 8, 2010, and
included these amendments.
"We are proactive when it comes to legislative matters that impact our
industry throughout the entire country," said Tom O'Brien, CEO.
"Insurance Auto Auctions will continue to support the salvage industry
by way of legislation and regulation that responsibly moves the industry
forward and benefits participants."
Insurance Auto Auctions works in concert with state and federal
governments and through registered lobbyists to facilitate legislation
and regulation that ensures responsible business conduct and healthy
expansion of the salvage auto auction industry. IAA vigilantly monitors
codes and laws that can impact the salvage auto auction industry
throughout the U.S.
Originally Senate Bill 1095 was signed June 19, 2009.
About Insurance Auto Auctions, Inc.
Insurance Auto Auctions, Inc. provides the advantage in salvage auto
auctions with their hybrid auction model combining live and live-online
auctions, North America's broadest salvage auction facility footprint, a
strong global buyer base and high vehicle returns. IAA's more than 150
corporate owned facilities across the United States and Canada provide
vehicle suppliers and buyers with powerful solutions to process and
acquire total-loss, recovered-theft, fleet lease, donation and rental
vehicles. The IAA Hybrid Auction Model, including live, live-online, and
proxy bidding, united with their mature global buyer base and diverse
inventory produce some of the industry's highest returns for vehicle
providers. With over 28 years in the industry, IAA holds the most
comprehensive warehouse of salvage auction data. For more information
regarding IAA visit our website at www.iaai.com.
Insurance Auto Auctions, Inc.
Jeanene O'Brien | Vice President,
Marketing
708-492-7328 | www.iaai.com
Copyright © 2012, Business Wire, Inc., All rights reserved.
Copyright © 2012, NewsBlaze,
Daily News
Search News
