RULES OF THE ARKANSAS MOTOR VEHICLE COMMISSION (3) The method of determining the balance on which a finance charge may be imposed. (4) The method of determining the finance charge, including a description of how any finance charge other than the periodic rate will be determined. (5) The amount of any charge (other than the finance charge) that may be imposed as part of the plan. (6) The fact that the creditor will acquire a security interest. The required disclosures are: (1) Any minimum, fixed, transaction, activity, or similar charges that could be imposed. (2) Any periodic rate that may be applied, expressed as an “annual percentage rate”. If the plan provides for a variable periodic rate, that fact must be stated. (3) Any membership or participation fee. RULE 4 A. FACILITY REQUIREMENTS FOR LOCATIONS LICENSED BY THE COMMISSION 1. General Requirements a. Must be a building permanently affixed and anchored to a foundation system. A tent or temporary stand is not deemed permanent. b. May not be shared with a residence or another business unrelated to motor vehicles. c. Must have electrical service. d. Must have adequate sanitary facilities (restroom). e. New motor vehicle dealers license must be prominently displayed and in public view. f. Hours of operation posted at the licensed facility must have hours of operation to include at a minimum of three (3) days per week for a continuous four (4) hours per day between 8 a.m. and 9 p.m. g. Must have an office area capable of storing all transaction documents safely and in a manner to provide ease of access for inspection of these documents. 2. Facility Signage a. A sign shall be permanently affixed on the premises of the facility. b. The sign must be visible from the road and clearly and specifically identify the business. 3. Display Area a. Must have a dedicated display area inside the building. b. Display area must be a minimum of 120 square feet with enough dedicated space to display at least two (2) or more new motor vehicles. 4. Service and Parts Area a. Must have a dedicated service and parts area inside the building. b. Minimum 120 square feet of useable service area. c. The area should be arranged with adequate space to repair and service at least one vehicle with access to tools, replacement parts, and service equipment. B. FACILITY REQUIREMENTS FOR BRANCH LOCATIONS LICENSED BY THE COMMISSION 1. Branch Name: The name used on signage at the branch location and in advertisements for the branch location may not include any portion of the franchise name used at the primary location and may not include product nameplates and/or logos. 2. Geographical Location: A new motor vehicle dealer may obtain a license to operate a branch location. The branch location must be within the dealer’s relevant market area as defined in A.C.A. § 23-112-103, or within the market area specified in the licensee’s franchise agreement whichever is greater. 3. Product Sold: Only used vehicles may be displayed and sold at the branch location. No new motor vehicles or demonstrators of any brand may be displayed or sold at the branch location. 4. Sales Facilities: There must be a permanent building from which sales are conducted. Records of sales transactions may be kept at the dealer’s primary location. 5. Service Facilities: The branch location is not required to have service facilities on the premises. RULE 5 LIMITATION OF SALES OF NEW MOTOR VEHICLES 1. A new motor vehicle dealer will be licensed only after the Arkansas Motor Vehicle Commission is provided with a signed copy of the contract between the dealer and manufacturer or distributor which specifies: A. The line-make(s) which may be displayed and offered for sale; B. That the dealer’s physical facilities meet or exceed the minimum requirements of the manufacturer or distributor and meet the requirements of the Arkansas Motor Vehicle Commission ACT, A.C.A 23-112-302 (e) (1) (2). 2. The contract may be in the form of a franchise agreement, dealer sales and service agreement or letter of intent. A letter of intent may be used only if: A. Upon execution of a subsequent, final, or amended contract, a copy of the complete contract is provided to the Arkansas Motor Vehicle Commission within 30 days of the date the contract is executed. 3. If, after licensing, the terms of the contract between the dealer and the manufacturer or distributor change, a copy of the new contract must be provided to the Arkansas Motor Vehicle Commission within 30 days of the date the contract is executed. 4. (A) SPECIALTY VEHICLES are exempt from regulation and licensure by the Commission. The Arkansas Motor Vehicle Commission Act defines specialty vehicles and authorizes the Commission to add to by rule, additional vehicles to the list of specialty vehicles. Pursuant to its authority to define specialty vehicles in A.C.A. §23-112-103 the Commission has determined that the following vehicles are specialty vehicles which are exempt from regulation by the Commission. (1) Garbage Trucks, Ambulances, Fire Trucks, Limousines, Hearses, Wheeled Trolleys, Wreckers, and; (2) Unassembled motor vehicles such as kits or packaged and sold unassembled. (a) “Unassembled” means requiring the ultimate purchaser to assemble the vehicle by attaching the engine and/or drive train to the frame. (b) Motor vehicles such as kits or packaged vehicles assembled prior to sale do not qualify under this Rule as a “Specialty Vehicle”. (3) Any 2 wheeled motorized vehicles having a top rated speed of 16mph or less. (4) Farm Implements defined as a vehicle or implement solely usable for the purpose of agriculture or husbandry and not for the transportation of person(s) or materials from one point to another. Tractors, combines and other similar limited purpose vehicles are farm implements. (5) Construction Implements defined as a vehicle or implement solely usable for the purpose of construction and not for the transportation of person(s) or materials from one point to another. Back Hoes, Bulldozers and other similar limited purpose vehicles are Construction Implements. (6) Gas scooters, Electric scooters and Cycles having a top rated speed of 16 mph or less. (7) Go-Carts, Dune Buggies, or similar type vehicles having a 150cc motor or less. (i) A 12 1/2 HP engine displacement; or (ii) A 150cc or less engine (8) Non-altered golf carts of the type designed and commonly approved for use on all golf courses; (a) Having non-aggressive tread tires and limited purpose capabilities, and; (b) With a designed use limited to the transport of persons and equipment, such as golf clubs, used in playing games of golf. (9) Lawnmowers. (10) Airplanes. (11) Trains. 48 | 2024 Membership Directory and Buyer’s Guide
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