Section 492.105 – Bond to Accompany First License Application; Bond Applicable to Principal Place of Business; Form; Penal Sum; Execution; Condition; Action on Bond; Filing New Bond or Renewal Certificate.
492.105 Bond to accompany first license application; bond applicable to principal place of business; form; penal sum; execution; condition; action on bond; filing new bond or renewal certificate. Sec. 5. (a) Except as provided in subdivision (b), a bond, in the form prescribed by the administrator, in the penal sum of $20,000.00 shall accompany the […]
Section 492.106 – License; Application; Fee; Abatement in Amount of License Fee; Expiration of License; Examination Fee; Hourly Rate and per Contract Rate; Invoice; Payment; Disposition and Use of Fees and Expenses.
492.106 License; application; fee; abatement in amount of license fee; expiration of license; examination fee; hourly rate and per contract rate; invoice; payment; disposition and use of fees and expenses. Sec. 6. (a) An application for license shall be accompanied by a license fee in the following amounts: 1. $30.00 for license as an installment […]
Section 492.106a – Receipt of Completed Application for New or Renewal License; Issuance of License Within Certain Time Period; Report.
492.106a Receipt of completed application for new or renewal license; issuance of license within certain time period; report. Sec. 6a. (1) Subject to subsection (3), beginning on the effective date of the amendatory act that added this section, the administrator shall approve or reject a new or renewal license application within 90 days after the […]
Section 492.107 – License Certificate; Issuance; Posting; License Nontransferable and Nonassignable; Change in Business Location; Notice; Amendment of License Certificate; Fee; Operating More Than 1 Place of Business.
492.107 License certificate; issuance; posting; license nontransferable and nonassignable; change in business location; notice; amendment of license certificate; fee; operating more than 1 place of business. Sec. 7. (a) Upon approving a license application, the administrator shall issue to the applicant a license certificate showing the name of the person authorized to do business under […]
Section 492.108 – License; Application, Rejection, Grounds, Notice; Retention of Fee.
492.108 License; application, rejection, grounds, notice; retention of fee. Sec. 8. (a) The administrator may reject any application for license or any application for renewal of a license if he is not satisfied that the financial responsibility and the general fitness of the applicant and of the owners, partners or members thereof, if the applicant […]
Section 492.109 – License; Revocation or Suspension; Grounds; Appeal.
492.109 License; revocation or suspension; grounds; appeal. Sec. 9. (a) The administrator, upon 30 days written notice to the licensee, forwarded by registered mail to the place of business of such licensee, as shown in the application for license or as amended on the license certificate in case of change of address subsequent to issuance […]
Section 492.110 – Investigation and Examination of Records; Access to Place of Business; Required Witness Attendance; Subpoena; Forms, Rules and Regulations.
492.110 Investigation and examination of records; access to place of business; required witness attendance; subpoena; forms, rules and regulations. Sec. 10. (a) The administrator is authorized and empowered to investigate and examine at any time during regular business hours any and all books, accounts, papers, records, documents and files, to the extent that such investigation […]
Section 492.101 – Motor Vehicle Sales Finance Act; Short Title.
492.101 Motor vehicle sales finance act; short title. Sec. 1. This act shall be known and may be cited as the “Motor vehicle sales finance act.” History: 1950, Ex. Sess., Act 27, Eff. Mar. 31, 1951 Compiler’s Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner […]
Section 492.102 – Definitions.
492.102 Definitions. Sec. 2. As used in this act: (a) “Administrator” means the director of the department of insurance and financial services. (b) “Cash price” means the price measured in dollars at which a seller of a motor vehicle would in good faith sell to the buyer or to any other buyer under like circumstances, […]
Section 492.103 – Installment Seller of Motor Vehicles; Sales Finance Company; License Required.
492.103 Installment seller of motor vehicles; sales finance company; license required. Sec. 3. Except for a person licensed under the consumer financial services act, a person shall not engage in this state as a principal, employee, agent, or broker in either of the following unless that person is licensed as provided in this act: (a) […]