(1)  The Idaho consumer asset recovery fund (ICAR) shall be administered by the Idaho consumer asset recovery control board, hereinafter referred to as the "board." The board shall be comprised of the director of the Idaho transportation department or his designee and the dealer advisory board or their designee(s), as established by section 49-1603, Idaho Code.
(2)  In addition to fees authorized pursuant to section 49-1607, Idaho Code, and in addition to any fees authorized elsewhere in this chapter, the Idaho consumer asset recovery control board shall establish a fee to be collected from each applicant for a new or renewing license issued pursuant to this chapter. The fee provided for in this section shall be charged for each applicant for a motor vehicle dealer’s license and the amount of such fee shall be set annually by the board. In setting the amount of the fee, the board shall take into consideration the balance of the fund and expenditures of moneys from the fund by all required participants. All fees collected pursuant to the provisions of this section shall be paid into the Idaho consumer asset recovery fund as established in section 49-1608B, Idaho Code. The department shall maintain an accurate record of all transactions involving the fund and report to the board at each meeting.