N.M. Admin. Code § 18.19.4.50

Current through Register Vol. 35, No. 21, November 5, 2024

Section 18.19.4.50 - ESTABLISHED PLACE OF BUSINESS - GENERAL

A. An established place of business must be devoted exclusively to the business for which the dealer is licensed and to any business incidental to the dealer's principal activity. Incidental business may include, but is not limited to, sales of automobile liability insurance, maintenance contracts, repairs, motor vehicle parts and after market accessories.

B. An established place of business must be located in an enclosed building on a permanent foundation that meets all local zoning requirements.

C. If a location proposed as an established place of business is to be leased, the lease shall be for a term of not less than six months. Lease provisions which allow for cancellation of the remaining lease term by either the lessor or lessee at his sole discretion shall be deemed to create a term of less than six months. Any lease which the department finds to be a sham or artificial transaction shall be deemed to create a term of less than six months.

N.M. Admin. Code § 18.19.4.50

7/19/94, 9/14/96; 18.19.4.50 NMAC - Rn, 18 NMAC 19.4.13.1, 9/14/00