Sec. 5-102.9. Alternative vehicle sales and ownership.
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Sec. 5-102.9. Alternative vehicle sales and ownership.
(a)The Secretary may create special dealership licenses for entities that specialize in specific types of used motor vehicles that may be based on model, make, age, or any other factor that the Secretary deems appropriate.
(b)Any owner who is not a manufacturer of the vehicle and chooses to lease a used vehicle for a period of less than 12 months shall ensure that the lessee maintains valid registration and liability insurance as set forth in Chapter 7 of this Code. The owner of the vehicle shall not collect any fees in connection with the registration of the vehicle unless the owner is also a licensed remittance agent under this Code.
(c)The Secretary may adopt any rules necessary to implement this Section.