Sec. 08.66.010. Dealers to register.
A dealer in motor vehicles shall, as a condition to engaging in business in the state, register biennially with the department.
Sec. 08.66.015. Sale of motor vehicle.
(a) A person who does business as a dealer in the state may not offer to sell or sell a motor vehicle as a new motor vehicle unless (1) the motor vehicle retains the manufacturer’s certificate of origin; and (2) the dealer has a current sales and service agreement with the manufacturer of the motor […]
Sec. 08.66.020. Application, bond, and fee.
Application for dealer registration shall be accompanied by a biennial registration fee of $50 and a bond required by AS 08.66.060.
Sec. 08.66.030. Form of application.
The department shall prescribe and furnish the form of application for dealer registration under AS 08.66.010. The application must contain (1) the name under which the business is conducted; (2) the location and telephone number of the business; (3) the name and address of all persons having an interest in the business and, in the […]
Sec. 08.66.040. Filing application for registration; identification of dealer.
The application shall be filed with the department. Upon receipt of the application, the department shall examine it and may make an investigation of the information in it. If the department is satisfied that the dealer is entitled to registration, and the fees have been paid and a bond filed, the department shall assign a […]
Sec. 08.66.050. Renewal of registration.
A dealer shall renew the registration required by this chapter before January 1 every two years.
Sec. 08.66.060. Bond.
(a) An applicant for a dealer registration under AS 08.66.010 shall file with the application and shall maintain in force while registered a bond in favor of the state that is executed by a surety approved by the commissioner. The amount of the bond shall be $100,000, except that the amount of a bond for […]
Sec. 08.66.070. Action on bond.
If a person suffers loss or damage by reason of fraud, fraudulent representations, or a violation of a provision of this chapter or another law of this state by a dealer, the person has a right of action against the dealer and a personal right of action against the surety upon the bond. The aggregate […]
Sec. 08.66.080. Penalties.
A dealer who fails to register and file a bond as required by this chapter is guilty of a violation. A dealer who knowingly violates a provision of this chapter is guilty of a class A misdemeanor.
Sec. 08.66.085. Insurance requirements.
A dealer in motor vehicles shall maintain liability insurance for bodily injury and property damage on an auto dealer’s form.
Sec. 08.66.260. Buyer’s agent contract required.
(a) Before a buyer’s agent negotiates on behalf of a buyer the purchase of a motor vehicle from a motor vehicle dealer, the buyer’s agent must have a written contract with the buyer. (b) The contract required by (a) of this section must include a description of the specific services to be provided by the […]
Sec. 08.66.270. Purchase agreement.
A buyer’s agent shall arrange for the buyer’s purchase agreement with the dealer to provide all warranty information, including the warranty expiration date, mileage limitations, and other restrictions. The warranty information must be specific to the motor vehicle being purchased.
Sec. 08.66.280. Fees of buyer’s agent.
(a) A buyer’s agent may not collect a fee from a buyer before the agent and the buyer enter into the contract required by AS 08.66.260. (b) A buyer’s agent may not calculate the fee of the buyer’s agent as a percentage of the motor vehicle purchase price or of the savings achieved by the […]
Sec. 08.66.290. Ownership interest prohibited.
A buyer’s agent may not own an interest in the motor vehicle that is the subject of the purchase that the agent is negotiating for the buyer.
Sec. 08.66.300. Certain compensation prohibited.
A buyer’s agent may not accept a rebate, kickback, commission, or other form of compensation from a financial institution, motor vehicle dealer, or other person, except the buyer, on a motor vehicle purchase that the agent negotiates for a buyer.
Sec. 08.66.310. Dual agency prohibited.
When representing a buyer, a buyer’s agent may not act as an agent for the motor vehicle dealer.
Sec. 08.66.320. Records of buyer’s agent.
A buyer’s agent shall maintain complete records of each motor vehicle purchase the agent negotiates, including the purchase arrangements and monetary transactions. The records must include (1) copies of advertisements, brochures, and pamphlets issued, used, or distributed by the buyer’s agent during the sales transaction; (2) the original contract between the buyer’s agent and the […]
Sec. 08.66.350. Definitions.
In this chapter, (1) “buyer’s agent” means a person who does business in the state by negotiating on behalf of a buyer the purchase of a motor vehicle from a motor vehicle dealer; (2) “department” means the Department of Administration; (3) “motor vehicle” means a motor vehicle that is required to be registered under AS […]