(a) The General Assembly declares that the public interest is affected by the sale and distribution of used motor vehicles, and it is recognized that a significant factor of the inducement in making a sale of a used motor vehicle to a member of the general public is the trust and confidence of the purchaser […]
As used in this subchapter: (1) (A) “Auto auction” means any person who operates or provides a place of business or facilities for the wholesale exchange of motor vehicles by and between duly licensed motor vehicle dealers, or from used motor vehicle dealers to individuals, or individuals to used motor vehicle dealers, or any combination […]
(a) In addition to any other penalty prescribed by existing laws, the penalties for violation of this subchapter and the disbursement of fines shall be as follows: (1) A first violation of this subchapter by any person shall constitute a Class A misdemeanor; (2) A second violation of this subchapter by any person shall constitute […]
(a) The Department of Arkansas State Police may promulgate rules that are necessary to implement, enforce, and administer this subchapter. (b) The department may cancel a dealer’s license if the dealer: (1) Fails to keep and maintain the requirements of § 23-112-607(a) and (c); or (2) Pleads guilty or nolo contendere to or has been […]
It shall be a violation of this subchapter to knowingly or intentionally: (1) (A) Sell a vehicle without a dealer’s license. (B) The sale of each vehicle shall constitute a separate offense; (2) Commit a fraudulent act in selling, purchasing, or otherwise dealing in motor vehicles; (3) Fail to maintain the conditions and requirements necessary […]
It shall be unlawful for any person to engage in business as a used motor vehicle dealer or to sell a vehicle not his or her own without obtaining a used motor vehicle dealer’s license, except that a person defined as a salesperson in § 23-112-602 may act on behalf of the dealer by whom […]
(a) (1) Persons wishing to obtain a used motor vehicle dealer’s license shall submit a fully executed application on such used motor vehicle dealer application forms as may be prescribed by the Department of Arkansas State Police. (2) The application shall be verified by the oath or affirmation of the applicant. (b) An applicant for […]
(a) (1) The fee for a license certificate shall be two hundred fifty dollars ($250) per year for each used motor vehicle dealer licensed. (2) (A) The fee shall be for the licensing period beginning on January 1 of each year and ending on December 31 of each year and shall be renewable during the […]
Upon satisfactory submission and verification of a fully executed application as required by § 23-112-607(a) and (b), payment of the fee provided for by § 23-112-608, and receipt of the corporate surety bond as required by § 23-112-607(c), the Department of Arkansas State Police shall issue the applicant a license certificate.
(a) Each dealer licensed under this subchapter shall maintain for display, in a conspicuous place at the dealer’s business location, the license certificate issued by the Department of Arkansas State Police. (b) (1) Each dealer shall also have his or her used motor vehicle dealer’s license name conspicuously displayed on all signage. (2) All printed […]
(a) Every person required to have a license shall maintain, for three (3) years from the date of purchase, records of each vehicle transaction to which the person was a party. (b) Dealers shall maintain copies of all documents executed in conjunction with any transaction, which may include bills of sale, titles, odometer statements, invoices, […]
(a) As used in this section: (1) (A) “Contract for sale” means the final agreement between a used motor vehicle dealer and a consumer that: (i) Includes all material terms of the sale of a motor vehicle; and (ii) Is binding upon the seller, the buyer, and any necessary third-party financer. (B) “Contract for sale” […]
(a) A five-dollar ($5.00) fee shall be charged to the buyer of each item at an auto auction that is sold on a certificate of title that is labeled “salvage” or “parts-only”. (b) The fee is special revenue and shall be deposited into the State Treasury. (c) The Treasurer of State shall transfer the special […]
(a) A used motor vehicle dealer may fill in the blanks on standardized forms in connection with the sale or lease of used motor vehicles if the motor vehicle dealer does not charge for the service of filling in the blanks or otherwise charge for preparing documents. (b) (1) A used motor vehicle dealer may […]
