61-4-106. Transfer of license.
146 words·~1 min read·
/mt/title-61/chapter-4/part-1/61-4-106·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
61-4-106 . Transfer of license. A registered dealer, broker, auto auction, or wholesaler who sells or disposes of the dealer's, broker's, auto auction's, or wholesaler's entire business to another person or seeks to change the applicant's name, ownership interest in the business, corporate officer or managing member of the business entity, or a person designated by the applicant to manage or oversee the applicant's business shall file with the department a statement containing the name of the registered dealer, broker, auto auction, or wholesaler, the number under which the business is registered, the name of the purchaser, and the location of the place of business sold.
Upon the filing of the statement, and a new license application form as originally required under 61-4-101 , along with a filing fee of $2, the department shall examine the license application of the purchaser as required under 61-4-101 .