As used in this title:
- (1) "Immediate family" means spouse, parent, stepparent, child, stepchild, sister, brother, grandparent, and grandchild.
- (2) "Suspend" means temporarily prevent from continuing.
- (3) "Revoke" means prevent from continuing for at least ten years.
- (4) "Violation" means a single found incident leading to the issuance of points. For purposes of this chapter, a violation could be a single sale, a single vehicle, a single document, or other similar items.
- (5) "Out-of-trust" means a dealer selling a vehicle without paying the complete financial obligation needed to obtain the title for the sold vehicle.
- (6) "Open title" means, upon the purchase of a vehicle by a dealer and the seller has completed his portion of the certificate of title, the dealer or purchaser intentionally leaves the buyer or purchaser assignment blank on the title.
- (7) "Dealer" means any entity licensed as a dealer under this title without regard to the type of dealer license issued by the department.
HISTORY: 2023 Act No. 51 (S.549), Section 23, eff January 1, 2024.
Code Commissioner's Note
At the direction of the Code Commissioner, "chapter" was substituted for "article" to correct a scrivener's error.
Editor's Note
2023 Act No. 51, Section 40(D), provides as follows:
"[SECTION 40.](D) SECTIONS 15 through 28 take effect on January 1, 2024. Any dealership applying for or renewing licenses, or operating on a currently issued license on or after January 1, 2024, is subject to the provisions of SECTIONS 15 through 28."