(a) A person may not engage in the business of a motor vehicle wholesale auction unless the person is licensed under this article by the department.
(b) A person desiring to engage in the business of a motor vehicle wholesale auction shall apply to the department on a form prescribed by the department. The form shall contain all of the following:
(1) The legal name of the applicant.
(2) The street address of the applicant's principal place of business.
(3) The street address of the applicant's headquarters, if different from the applicant's principal place of business.
(4) Any additional information as may be required by the department.
(c) A motor vehicle wholesale auction shall be required to maintain books, records, and files that shall be accessible and available for inspection by the department during normal business hours on usual business days. The department, by rule, shall establish electronic reporting requirements regarding the sale of motor vehicles at the motor vehicle wholesale auction.
(d) Every licensee under this article shall keep books and records in a form prescribed by the department. The books and records shall include purchases, sales or exchanges, and receipts of every motor vehicle purchased or sold or held for sale at the location of the licensee. In addition, the books and records shall include a description of each motor vehicle, which shall include the vehicle identification number of each motor vehicle, together with the name and address of any seller or purchaser of the motor vehicle.
(e) A motor vehicle wholesale auction may not sell a motor vehicle or component parts to anyone other than a licensed new or used motor vehicle dealer, automotive dismantler and parts recycler, secondary metals recycler as defined in Section 13A-8-30, or a person with an equivalent license from another jurisdiction.
Last modified: May 3, 2021