Sec. 5-102.5. Used vehicle dealer prelicensing education program courses.

297 words·~1 min read·/il/chapter-625/act-5/5-102-5

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(a)An applicant for a license as a Buy Here, Pay Here used vehicle dealer under Section 5-102.8 or a used vehicle dealer shall complete a minimum of 8 hours of prelicensing education program courses pursuant to this Section prior to submitting an application to the Secretary of State.

(b)To meet the requirements of this Section, at least one individual who is associated with the used vehicle dealer or Buy Here, Pay Here used vehicle dealer as an owner, principal, corporate officer, director, or member or partner of a limited liability company or limited liability partnership shall complete the education program courses.

(c)The education program courses shall be provided by public or private entities with an expertise in the area as approved by the Secretary of State. The Secretary of State must approve course curricula and instruction, in consultation with the Illinois Department of Transportation and any private entity with expertise in the area in the Secretary of State's discretion.

(d)Each person who successfully completes an approved prelicensing education program under this Section shall be issued a certificate by the education program provider of the course. The current certificate of completion, or a copy of the certificate, shall be posted conspicuously in the principal office of the licensee.

(e)The provisions of this Section apply to all Buy Here, Pay Here used vehicle dealers under Section 5-1028 or used vehicle dealers including, but not limited to, individuals, corporations, and partnerships, except for the following:

(1)Motor vehicle rental companies having a national franchise;

(2)National motor vehicle auction companies;

(3)Wholesale dealer-only auction companies;

(4)Used vehicle dealerships owned by a franchise motor vehicle dealer; and

(5)Banks, credit unions, and savings and loan associations.