Sec. 5.
(1) "New motor vehicle" means a motor vehicle that is in the possession of the manufacturer, distributor, or wholesaler, or has been sold only to a new motor vehicle dealer and for which the new motor vehicle dealer has not issued an original title.
(2) "New motor vehicle dealer" means a person, including a distributor, that holds a dealer agreement granted by a manufacturer, distributor, or importer for the sale or distribution of its motor vehicles; is engaged in the business of purchasing, selling, exchanging, or dealing in new motor vehicles; and has an established place of business in this state.
(3) "Person" means a natural person, partnership, corporation, limited liability company, association, trust, estate, or other legal entity.
(4) "Proposed new motor vehicle dealer" means a person who has an application pending for a new dealer agreement with a manufacturer or distributor. Proposed motor vehicle dealer does not include a person whose dealer agreement is being renewed or continued.
History: 1981, Act 118, Imd. Eff. July 19, 1981 ;-- Am. 1998, Act 456, Imd. Eff. Dec. 30, 1998 ;-- Am. 2010, Act 139, Imd. Eff. Aug. 4, 2010
Last modified: October 10, 2016