Arizona Laws 28-4362. Application; fee; bond
Applications shall be accompanied by:
Terms Used In Arizona Laws 28-4362
- Automotive recycler: means a person that is engaged in the business of buying or acquiring a motor vehicle solely for the purpose of dismantling, selling or otherwise disposing of the parts or accessories and that removes parts for resale from six or more vehicles in a calendar year. See Arizona Laws 28-101
- Dealer: means a person who is engaged in the business of buying, selling or exchanging motor vehicles, trailers or semitrailers and who has an established place of business and has paid fees pursuant to section 28-4302. See Arizona Laws 28-101
- Director: means the director of the department of transportation. See Arizona Laws 28-101
- Lien: A claim against real or personal property in satisfaction of a debt.
- Owner: means :
(a) A person who holds the legal title of a vehicle. See Arizona Laws 28-101
- Person: includes a corporation, company, partnership, firm, association or society, as well as a natural person. See Arizona Laws 1-215
- State: means a state of the United States and the District of Columbia. See Arizona Laws 28-101
- Writing: includes printing. See Arizona Laws 1-215
1. The filing fees prescribed in section 28-4302, and each licensee shall pay the annual license fee prescribed in section 28-4302.
2. A bond that:
(a) Is in a form to be approved by the director.
(b) Is in an amount prescribed by the director of at least twenty thousand dollars for an automotive recycler‘s license and not more than one hundred thousand dollars for all other licenses.
(c) Is executed by a surety company authorized to transact business in this state as surety on the bond with the applicant as principal obligor on the bond and the state as obligee.
(d) Is cancellable only on at least sixty days’ prior notice to the director.
(e) Inures to the benefit of a person who suffers loss because of either:
(i) Nonpayment by the dealer of customer prepaid title, registration or other related fees or taxes.
(ii) The automotive recycler’s or the dealer’s failure to deliver in conjunction with the sale of a vehicle a valid vehicle title certificate free and clear of any prior owner‘s interests and all liens except a lien created by or expressly assumed in writing by the buyer of the vehicle.
3. A copy of the dealer’s current transaction privilege tax license.