The application shall be filed with the department. Upon receipt of the application, the department shall examine it and may make an investigation of the information in it. If the department is satisfied that the dealer is entitled to registration, and the fees have been paid and a bond filed, the department shall assign a distinctive registration number to the dealer and file the dealer’s application and index it alphabetically and numerically. A dealer is registered when the department assigns a registration number. A dealer shall inform each person who purchases a vehicle from the dealer that the dealer is registered under this chapter and provide the dealer’s registration number.