N.J. Admin. Code § 13:21-15.7

Current through Register Vol. 56, No. 9, May 6, 2024

Section 13:21-15.7 - Responsibilities of licensee

(a) All documents, including, but not limited to, title papers, reassignments, temporary registrations, and applications for registration and applications for licensure, shall be executed in the name of the dealer only by the dealer or leasing dealer or an authorized signatory.

(b) The dealer shall be responsible for the disposition of all reassignments in his or her possession.

1. All dealer reassignments shall be filled out completely, including the name and license number of the dealer, with carbon copies made contemporaneously and not separately and retained for three years.

2. All dealer reassignments shall be accounted for upon request of the Commission.

3. All lost or stolen reassignments shall be promptly reported to the Commission and to the local police; failure to do shall be conclusive evidence of improper disposition thereof.

(c) The dealer, all partners, officers, directors and/or holders of controlling interests shall be individually responsible for the conduct of all business at the dealership and for compliance with all the requirements of the statutes and rules governing the business of buying, selling or dealing in motor vehicles.

(d) In the event that any information required to be submitted to the Commission in an application should change, the applicant or licensee shall notify the Commission of the change within 10 days thereof.

N.J. Admin. Code § 13:21-15.7

New Rule, R.2006 d.98, effective 3/6/2006.
See: 37 N.J.R. 1002(a), 38 N.J.R. 1324(a).
Former N.J.A.C. 13:21-15.7, Informing purchaser of dealer's responsibilities; suspension, revocation, or refusal to renew license due to noncompliance, recodified as N.J.A.C. 13:21-15.8.
Amended by R.2014 d.058, effective 4/7/2014.
See: 45 N.J.R. 2178(a), 46 N.J.R. 631(a).
In the introductory paragraph of (b), inserted "or her"; and in (b)2, inserted "the" and deleted "personnel" following "Commission".