SB 492 - This act increases, from $25,000 to $50,000, the size of the bond motor vehicle dealer license applicants are required to post to receive a license. It also provides that the Department of Revenue may stagger the licenses' expiration dates in order to equalize the workload. This act also adds the applicant's regular business hours, phone number, and email address to the information required to be submitted on an application, and includes language to accommodate application of business entities that are formed as a limited liability company (LLC) instead of a partnership or corporation. This act also provides that the Director of Revenue may allow a Department of Revenue employee, rather than a uniformed member or employee of the Highway Patrol, to make the required certification that the applicant has a bona fide established place of business.
This act requires applicants to maintain a phone number that allows the applicant to be contacted during business hours, and an email address that can be used for official correspondence with the Department.
Furthermore, this act removes certain exemptions for providing with a used vehicle dealer's license application proof that the applicant has completed a Department-approved education seminar within the preceding 12 months.
This act modifies the circumstances under which the Department of Revenue may cause a complaint to be filed with the Administrative Hearing Commission against an applicant or license holder to include non-fulfillment of terms of license probation.
This act specifies that certain involvement with a business entity, the license of which was revoked or suspended for cause and not reissued, or that was placed on a non-fulfilled probationary period, is considered cause for license suspension or revocation. Orders of suspension or renewal may give licensees 5 days to accept terms of probation in lieu of a suspension or revocation. Settlement agreements between the licensee may entail issuance of a license for a period less than one year.
This act also specifies requirements for off-premise events, including criteria that must be met in order to be approved by the Director of the Department of Revenue, such as how long the events may be, how many events each licensed dealer may host, locations at which the events may be held, participation fee requirements, requirements for notice to other dealers, and an application timeline.
This act is similar to provisions in HCS/SCS/SB 399 (2017) and HB 1034 (2017).
ERIC VANDER WEERD