Sec. 15. (a) A person who ceases a business activity for which a license was issued under this article shall do the following:

(1) On a form prescribed by the secretary, notify the secretary of the date that the business activity will cease.

(2) Deliver to the secretary the license and all permanent dealer license plates, including dealer designee license plates, issued to the person not later than ten (10) days after the date the business activity ceased.

     (b) A dealer may not transfer or sell the:

(1) dealer’s license;

(2) use of the dealer’s license;

(3) dealer’s dealer license plates; or

(4) use of the dealer’s dealer license plates.

     (c) A dealer that changes its form of organization or state of incorporation may continue the dealer’s licensure by filing an amendment to the license and registration if the change does not involve a material fact in the financial condition or management of the dealer. The amendment becomes effective when filed or on the date designated by the dealer in its filing. The new organization is a successor to the original dealer for the purposes of this article.

     (d) If there is a change in the dealer’s ownership, the successive owner shall file a new application for a license under this chapter.

As added by P.L.92-2013, SEC.78. Amended by P.L.151-2015, SEC.72; P.L.174-2016, SEC.93; P.L.179-2017, SEC.91; P.L.120-2020, SEC.67.