Montana Code 61-4-106. Transfer of license
61-4-106. Transfer of license. A registered dealer, broker, auto auction, or wholesaler who sells or disposes of the dealer’s, broker’s, auto auction’s, or wholesaler’s entire business to another person or seeks to change the applicant’s name, ownership interest in the business, corporate officer or managing member of the business entity, or a person designated by the applicant to manage or oversee the applicant’s business shall file with the department a statement containing the name of the registered dealer, broker, auto auction, or wholesaler, the number under which the business is registered, the name of the purchaser, and the location of the place of business sold. Upon the filing of the statement, and a new license application form as originally required under 61-4-101, along with a filing fee of $2, the department shall examine the license application of the purchaser as required under 61-4-101.
Terms Used In Montana Code 61-4-106
- Broker: means a person:
(a)who engages in the business of offering to procure or procuring a motor vehicle, a trailer, a semitrailer, a pole trailer, a travel trailer, a motorboat, a personal watercraft, a snowmobile, or an off-highway vehicle on behalf of another; or
(b)who represents to the public through solicitation, advertisement, or otherwise that the person is one who offers to procure or procures a motor vehicle, a trailer, a semitrailer, a pole trailer, a travel trailer, a motorboat, a personal watercraft, a snowmobile, or an off-highway vehicle by negotiating purchases, contracts, sales, or exchanges on behalf of another and who does not store, display, or take ownership of a motor vehicle, a trailer, a semitrailer, a pole trailer, a travel trailer, a motorboat, a personal watercraft, a snowmobile, or an off-highway vehicle. See Montana Code 61-4-131
- Business entity: means a corporation, association, partnership, limited liability partnership, limited liability company, or other legal entity recognized under state law. See Montana Code 61-1-101
- Dealer: means a person that, for commission or profit, engages in whole or in part in the business of buying, selling, exchanging, or accepting on consignment new or used motor vehicles, trailers, semitrailers, pole trailers, travel trailers, motorboats, sailboats, snowmobiles, off-highway vehicles, or special mobile equipment that is not registered in the name of the person. See Montana Code 61-1-101
- Department: means the department of justice acting directly or through its duly authorized officers or agents. See Montana Code 61-1-101
- person: means an individual, corporation, partnership, limited partnership, limited liability company, association, joint venture, state agency, local government unit, another state government, the United States, a political subdivision of this or another state, or any other legal or commercial entity. See Montana Code 61-1-101
- Wholesaler: means a person that for a commission or with intent to make a profit or gain of money or other thing of value sells, exchanges, or attempts to negotiate a sale or exchange of an interest in a used motor vehicle, trailer, semitrailer, pole trailer, travel trailer, motorboat, snowmobile, off-highway vehicle, or special mobile equipment only to dealers and auto auctions licensed under chapter 4, part 1. See Montana Code 61-1-101