ARKANSAS MOTOR VEHICLE COMMISSION ACT (4) The bond shall be executed in the name of the State of Arkansas for the benefit of any aggrieved party. (5) The aggregate liability of the surety for all claimants, regardless of the number of years this bond is in force or has been in effect, shall not exceed the amount of the bond. (6) The proceeds of the bond shall be paid upon receipt by the Commission of a final judgment from an Arkansas court of competent jurisdiction against the principal and in favor of an aggrieved party. (d) (1) In addition to the provisions subsections (a)-(c) of this section, applications for licenses as motor vehicle dealers in new motor vehicles must also be accompanied by the filing with the Commission of a bona fide contract or franchise then in effect between the applicant and a manufacturer or distributor of the new motor vehicles proposed to be dealt in. (2) However, if the contract or franchise has already been filed with the Commission in connection with a previous application made by the applicant, the applicant, in lieu of again filing the contract or franchise, shall identify the contract or franchise by appropriate reference and file all revisions and additions, if any, which have been made to the contract or franchise. (e) The applicant for a license as a new motor vehicle dealer shall furnish satisfactory evidence that the applicant: (1) Maintains adequate space in the building or structure wherein the applicant’s established business is conducted for the display of new motor vehicles or will have the facilities within a reasonable time after receiving a license; (2) Has or will have adequate facilities in the building or structure to perform repair and service work on motor vehicles and adequate space for storage of new parts and accessories for the motor vehicles; and (3) Will perform repair and warranty services on a motor vehicle at the license location. (f) (1) Every licensed dealer shall maintain for three (3) years after the date of purchase records of each vehicle transaction to which the dealer was a party. (2) Dealers shall maintain copies of all documents executed in connection with any transaction, which may include bills of sale, titles, odometer statements, invoices, affidavits of alteration, and reassignments, and shall be open to inspection by the Executive Director of the Arkansas Motor Vehicle Commission or a Commission Representative acting in an official capacity during reasonable business hours and upon execution of subpoena. (g) (1) The licensee applying for a branch license shall not utilize any portion of franchise name or product nameplates. (2) A licensee applying for a branch license shall remain in the relevant market area, as defined in the franchise or selling agreement approved by the franchiser and franchisee and on file in the Commission office or as defined in this subchapter pertaining to relevant market area, whichever is greater. History. Acts 1975, No. 388, § 5; 1985, No. 1032, § 3; 1985, No. 1058, § 3; A.S.A. 1947,§ 75-2305; Acts 1995, No. 568, § 5; 1999, No. 1042, § 3; 2001, No. 1053, § 3; 2009, No. 756,§ 7; Act 2013, No. 561, §4. 23-112-303. Application Fees. (a) All applications for licenses shall be accompanied by the appropriate fees in accordance with the schedule set out in this subchapter. (b) In the event any application is denied and the license applied for is not issued, the entire license fee shall be returned to the applicant. (c) The schedule of license fees to be charged and received by the Arkansas Motor Vehicle Commission for the licenses issued pursuant to this subchapter shall be as follows: (1) For each manufacturer, distributor, factory branch and division, or distributor branch and division, second-stage manufacturer, importer, and converter, nine hundred dollars ($900); (2) For each motor vehicle dealer or motor vehicle lessor, one hundred dollars ($100); (3) For each manufacturer, distributor or factory representative, four hundred dollars ($400); (4) For each branch location, twenty-five dollars ($25.00); and (5) For each replacement certificate of license, ten dollars ($10.00). (d) (1) Any person, firm, or corporation required to be licensed under this subchapter who fails to make application for the license at the time required shall pay a penalty of fifty percent (50%) of the amount of the license fee for each thirty (30) days of default, in addition to the fees required to be paid pursuant to subsection (c) of this section. However, the penalty may be waived, in whole or in part, within the discretion of the Commission. (2) License applications for sales personnel shall be received in the Commission office within thirty (30) days of employment. History. Acts 1975, No. 388, § 5; 1985, No. 1032, § 3; 1985, No. 1058, § 3; A.S.A. 1947,§ 75-2305; Acts 1995, No. 568, § 6; 1997, No. 1154, § 14; 2001, No. 1053, § 4; Act 2021, No. 504, §7. 23-112-304. Issuance of License – Change of Location – Change of Business or Corporate Name, Structure, or DBA name – Dealers, Manufacturers, Distributors, etc. (a) The license issued to each motor vehicle dealer, manufacturer, distributor, factory branch or division, or distributor branch or division shall specify the location of the factory, office, branch or division thereof. (b) In case the location is changed, the Arkansas Motor Vehicle Commission shall endorse the change of location on the license without charge if it is within the same county. (c) A change of location to another county shall require a new license. (d) Licensees shall notify the Commission in writing of any change in the business or corporate name or structure and of any alternate name or names in which the company will do business, “DBA names”, and shall provide the original issue license with the notification of name change or addition of DBA name or names. The Commission shall endorse the change on the license without charge. History. Acts 1975, No. 388, § 5; 1985, No. 1032, § 3; 1985, No. 1058, § 3; A.S.A. 1947, § 75-2305; Acts 1995, No. 568, § 7; 1997, No. 1154, § 10; 2001, No. 1053, § 5. 23-112-305. Display of License – Change of Employer – Factory Representative and Distributor Representative. (a) Every motor vehicle factory representative or distributor representative shall have his or her license upon his or her person when engaged in his or her business and shall display the license upon request. (b) The name of the employer of the factory representatives or distributor representative shall be stated on the license, and, in case of a change of employer, the holder of the license shall immediately mail the license to the Arkansas Motor Vehicle Commission for its endorsement of the change thereon. History. Acts 1975, No. 388, § 5; 1985, No. 1032, § 3; 1985, No. 1058, § 3; A.S.A. 1947,§ 75-2305; Acts 1995, No. 568, § 8; 2001, No. 1053, § 6. 23-112-306. [Repealed]. History. Acts 1975, No. 388, § 5; 1985, No. 1032, § 3; 1985, No. 1058, § 3; A.S.A. 1947,§ 75-2305; Acts 1995, No. 568, § 9; 2001, No. 1053, § 7; Act 2021, No. 504, §8. 23-112-307. Expiration of License. Unless the Arkansas Motor Vehicle Commission by rule provides to the contrary, all licenses issued to: (1) Manufacturers, distributors, factory or distributor branches, importers, second-stage manufacturers, converters, and their representatives expire June 30 following the date of issue; and (2) Motor vehicle dealers and motor vehicle lessors expire December 31 following the date of issue. History. Acts. 1975, No. 388, § 5; 1985, No. 1032, § 3; 1985, No. 1058, § 3; A.S.A. 1947, § 75-2305; Acts 1987, No. 620, § 2; 1995, No. 568, § 10; 2001, No. 1053, § 8; 2009, No. 756,§ 8; 2021, No. 504, §9. 23-112-308. Denial, Revocation, and Suspension. (a) Notwithstanding any other statute, the Arkansas Motor Vehicle Commission may deny an application for a license or revoke or suspend a license after it has been granted for any of the following reasons: (1) (A) For selling or soliciting sales of a motor vehicle without: (i) A motor vehicle dealer license issued by the Commission; or (ii) Being a bona fide employee or agent of a licensed motor vehicle dealer. (B) The unlawful sale or solicitation of each motor vehicle shall constitute a separate offense; (2) On satisfactory proof of the unfitness of the applicant or the licensee, as the case may be, under the standards established and set out in this chapter; (3) For fraud practiced or any material misstatement made by an applicant in any application for license under the provisions of this chapter; Arkansas Automobile Dealers Association | 29
RkJQdWJsaXNoZXIy ODQxMjUw