SB 484 - This act modifies the law regarding the regulation of motor vehicle dealers.
The act modifies the law governing monthly reports submitted by motor vehicle dealers to the Department of Revenue. Under the proposed act, motor vehicle, trailer, and boat dealers must file with the Department of Revenue, in an electronic format, a weekly sales report. The current law requires a monthly report (Section 301.280).
This act modifies what a motor vehicle dealer application license must contain. The act requires the application to contain a statement of fact to the percentage of ownership of all partners in a partnership (Section 301.559).
The act clarifies that applicants do not have to submit a photography when renewing their motor vehicle dealer licenses unless the business has moved from its previous location.
This act doubles the amount of the corporate surety bond a dealer must provide to become licensed from $25,000 to $50,000. The act also modifies the language governing garage policies. Every dealer applicant must furnish a copy of the current motor vehicle dealer physical damage policy intended to cover inventory loss to vehicles on the dealer's lot.
The act provides that all dealer license fees, other than those fees collected for the issuance of dealer plates or certificates of number, shall be deposited in Motor Vehicle Commission Fund. Currently, the dealer plate and certificate fees go this statutory fund.
The act increases the fee for obtaining a certificate of number from $50 to $100.
The act provides that additional dealer plates and certificates of number may be obtained for a fee of $15 rather than the current fee of $10.50.
The act provides that motor vehicle dealer plates may be displayed on any vehicle owned by the dealer while hauling any vehicle owned by the motor vehicle dealer (Section 301.560).
This act modifies the law governing motor vehicle shows. Under current law, motor vehicle shows away from the dealer's usual licensed place of business may be held if a majority of the motor vehicle dealers in the city where the show is to take place are invited to participate in the event. This act requires all of the dealers be invited or have the opportunity to participate rather than a majority of them.
For off-site sales, the act requires the payment of a permit fee of $1,000 to the Motor Vehicle Commission Fund rather than the current fee of $550. The act also requires 30 days notice to the department for off-site sales (currently 10 days) (Section 301.566).
Under this act, it is unlawful for a person to sell 12 (currently 6) or more motor vehicles without a dealer license or meets another statutory exception (Section 301.570).