41-3-207. New motor vehicle dealer's license -- Change, addition, or loss of
franchise -- Notification -- Relinquishment of license and relicensing as used motor vehicle
dealer -- Continuance in business to dispose of stock.
(1) If a dealer changes to, adds, cancels, or loses a franchise for the sale of new motor
vehicles he shall immediately notify the administrator.
(2) (a) If the dealer has cancelled or lost a franchise, the administrator shall determine
whether the dealer should be licensed as a used motor vehicle dealer.
(b) If the administrator determines that the dealer should be licensed as a used motor
vehicle dealer, he shall issue to the dealer a used motor vehicle dealer's license.
(c) A dealer relicensed as a used motor vehicle dealer may continue to sell new motor
vehicles for up to six months from the date of the relicensing, to enable the dealer to dispose of
his existing stock of new motor vehicles.
Renumbered and Amended by Chapter 234, 1992 General Session
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Last revised: Thursday, May 01, 2008