Insurance Auto Auctions, Inc. (IAA), a business unit of KAR Auction Services, and a live and live online salvage auto auction company, disclosed that Ohio House Bill 468 has become law, and will become effective on the 91st day after the act is filed with the secretary of State.
IAA and other industry leaders worked toward this result, one aspect of which is the repeal of the requirement for a Buyer Identification (BID) card, a state issued bidding license for the purchase of salvage vehicles at salvage auctions in the state of Ohio.
“The bill helps to modernize Ohio’s salvage sales laws to be more in keeping with the laws of the vast majority of states by encouraging a more open and competitive market in Ohio,” said John Kett, chief executive officer and president, IAA.
This legislation is a modest step that helps open Ohio’s salvage vehicle industry to a wider market. The bill broadens the categories of those to whom salvage vehicles can be sold. Potential bidders can now include, among others, used car dealers, and certain other automotive-related businesses.
Ohio House Bill 468 is an example of the efforts of IAA and others affected by our industry to put in place responsible salvage laws that serve our customers and society as a whole. IAA has a team of dedicated professionals who monitor legislative and regulatory actions and who work to improve these as necessary.
Published in the February 2015 Edition of American Recycler News
