Wash. Admin. Code § 308-90-130 - Consignment
How do I handle consignment sales?
(1) All funds received from purchasers,
including deposits, payments, or proceeds from the sale of trade-in vessels on
a consignment sale, shall be placed in the vessel dealers trust account as
required in RCW 88.02.220, and those funds shall remain in such trust account
until the consignor's and the legal owner's interest, if any, have been fully
satisfied.
(2) If the sale of a
consigned vessel is a retail sale the vessel dealer is required to transfer
title as required by RCW 88.02.125.
Notes
Statutory Authority: RCW 88.02.100. 02-05-073, § 308-90-130, filed 2/20/02, effective 3/23/02; 96-24-042, § 308-90-130, filed 11/27/96, effective 12/28/96. Statutory Authority: 1987 c 149 § 1. 88-03-038 (Order DLR-162), § 308-90-130, filed 1/19/88.
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