CONSUMER FRAUD-AUCTION VEHICLE

Amends the Consumer Fraud and Deceptive Business Practices Act. Provides that the prohibition against the modification or disclaimer of an implied warranty of merchantability regarding certain motor vehicle components for 15 days after the retail sale of a used vehicle to a consumer by a licensed dealer does not apply to a vehicle sold at an auction that is open to the general public if the auction company has conducted a mechanical inspection of the vehicle and given notice of any defects to prospective purchasers. Effective immediately.