218.0111 Authority of licensors.

235 words·~1 min read·/wi/chapter-218/218-0111

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The department of transportation shall issue the licenses provided for in s. 218.0114

(a)to

(fm)and have supervision over the licensees in respect to all of the provisions of ss. 218.0101 to 218.0163 , except that the division of banking shall have jurisdiction and control over all of the following:

(a)Matters that relate to the sale of motor vehicles on retail installment contracts and the financing and servicing of those retail installment contracts.

(b)Matters that relate to prelease agreements under s. 218.0144 and consumer leases under chs. 421 to 427 and 429 .

(c)The issuance of licenses to sales finance companies.

(2)Either licensor under sub.

(1)shall, upon request, furnish the other licensor with any information it may have, including such information as may be available to the division of banking through the nationwide multistate licensing system and registry, in respect to any licensee or applicant for license or any transaction in which such a licensee or applicant may be a party or be interested. No license shall be issued under s. 218.0114

(a)and

(g)until both licensors have approved the application. The suspension or revocation of either the license issued under s. 218.0114

(a)or

(g)shall automatically suspend or revoke the other license. Any suspension or revocation shall be certified by the licensor ordering it to the other licensor.