REGULATION 8 A Guide for Mississippi Franchised Automobile Dealers Regulation 8, established by the Mississippi Motor Vehicle Commission (MMVC), outlines specific rules and requirements for franchised automobile dealers in Mississippi regarding Documentary/Service fees. It is crucial for dealerships to understand and adhere to these regulations to ensure compliance with the law and avoid potential fines and/or penalties. Maximum Fee Amount: The maximum amount a dealer can charge for a Documentary/Service Fee, as per Regulation 8, is $425. Dealerships found charging an amount exceeding this limit may face fines imposed by the MMVC. It is imperative for dealers to consistently review and update their fee structures to remain within the legal bounds set by the regulation. Reporting Requirements: Dealers charging Documentary/Service Fees are obligated to report the amount charged to the MMVC no later than December 31 of each year. Timely and accurate reporting is essential to demonstrate compliance with Regulation 8 and avoid potential penalties.
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