339. SALE OR TRANSFER OF VEHICLE OR INSTRUMENT OF SECURITY

339 SALE OR TRANSFER OF VEHICLE OR INSTRUMENT OF SECURITY 339.1 The assignment by the holder of an instrument of security to a dealer who is liable to the holder under a guaranty, an endorsement, or a repurchase agreement relating to that instrument of security shall not constitute the sale or disposition of a motor vehicle within the meaning of §§ 340 through 349 of this chapter, inclusive. 339.2 The transfer of a motor vehicle securing that instrument of security or both the assignment (under § 339.1) and transfer (under this sub-section) to a dealer who is liable to the holder under a guaranty, an endorsement, or a repurchase agreement relating to that instrument of security shall not constitute the sale or disposition of a motor vehicle within the meaning of §§ 340 through 349 of this chapter, inclusive.