Wis. Admin. Code § Trans 140.01 – Purpose and scope.

(1) Statutory authority. As authorized by ss. 218.0152, 218.25, and 227.11, Stats., the purpose of this chapter is to establish the department’s administrative interpretation of ss. 218.0114 (4), (5), (20), (22), 218.0116 (1) (a) and (d), Stats., relating to the security requirements and financial qualifications of motor vehicle wholesaler, dealer, and salesperson license applicants, s. 218.11 (3) and (6) (a) and (g), Stats., relating to the financial qualifications of mobile home dealer license applicants to engage in the sale of recreational vehicles, and ss. 218.21 (1), (1m), (4) and (6), and 218.22 (1) and (3) (a) and (g), Stats., relating to the financial qualifications of motor vehicle salvage dealer license applicants, and s. 218.41 (2) (c) and (3) (a), Stats., relating to the financial qualifications of moped dealer license applicants.
(2) Applicability.
1. (a) This chapter applies to any sole proprietorship, partnership or corporate entity applying for or holding a Wisconsin dealer’s license under any of the statute sections cited in sub. (1).
2. (b) The provisions of subch. II apply to all applicants for a license issued by the department under ch. 218, Stats., and to all such licensees, who furnish a bond or letter of credit pursuant to s. 218.0114 (5) or (20), 218.11 (3) or (6) (g), 218.21 (4) or (6), or 218.33 (1), Stats. The provisions of subch. II also apply to all sureties and financial institutions that issue such bonds or letters of credit, and to all claimants against such bonds or letters of credit.
  Note: Forms used in this chapter are: MVD-2195 Financial Statement, MVD-2077 Motor Vehicle Dealer, Mobile Home Dealer or Salesperson Bond, MVD-2077A Moped Dealer Bond, MVD 2511 Motor Vehicle Dealer Bond and MVD 2497 Motor Vehicle Salvage Dealer Bond.

History

History: Cr. Register, March, 1985, No. 351, eff. 4-1-85; cr. (2) (am) and am. (2) (b), Register, July, 1986, No. 367, eff. 8-1-86; correction in (1) made under s. 13.93 (2m) (b) 7., Stats., Register, December, 1987, No. 384; am. (1), renum. (2) (am) to be (2) (b) and am., r. (2) (b), Register, February, 1996, No. 482, eff. 3-1-96; corrections in (1), (2) (b) made under s. 13.92 (4) (b) 7., Stats., Register March 2012 No. 675.