SSHB 146: "An Act relating to an application for a license to operate as a dealer in motor vehicles; and requiring a dealer in motor vehicles to maintain liability and property insurance."
00 SPONSOR SUBSTITUTE FOR HOUSE BILL NO. 146 01 "An Act relating to an application for a license to operate as a dealer in motor vehicles; 02 and requiring a dealer in motor vehicles to maintain liability and property insurance." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 08.66.030 is amended to read: 05 Sec. 08.66.030. Form of application. The department shall prescribe and 06 furnish the form of application for dealer registration under AS 08.66.010. The 07 application must contain 08 (1) the name under which the business is conducted; 09 (2) the location and telephone number of the business; 10 (3) the name and address of all persons having an interest in the 11 business and, in the case of a corporation, the application shall contain the name and 12 address of the two principal officers; 13 (4) the name and make of all vehicles handled; 14 (5) a statement of whether or not used vehicles are handled;
01 (6) a statement that the applicant is a bona fide dealer in motor 02 vehicles with an established business at the location given; 03 (7) a statement that no person holding a five percent or greater 04 interest in the business has, during the 10-year period immediately preceding the 05 date of the application, been convicted of a felony; 06 (8) a copy of a certificate of insurance documenting workers' 07 compensation insurance coverage required under AS 23.30, if applicable; 08 (9) a copy of a certificate of insurance documenting that the 09 applicant maintains the insurance coverage required under AS 08.66.085; 10 (10) if the applicant sells a motor vehicle as a new or current model 11 motor vehicle having a manufacturer's warranty, the name of the manufacturer of the 12 motor vehicle and the date and duration of the applicant's sales and service agreement 13 with the manufacturer; and 14 (11) [(8)] other information the department requires to administer this 15 chapter. 16 * Sec. 2. AS 08.66.060(a) is amended to read: 17 (a) An applicant for a dealer registration under AS 08.66.010 shall file with 18 the application and shall maintain in force while registered a bond in favor of the state 19 that is executed by a surety approved by the commissioner. The amount of the bond 20 shall be $250,000 [$50,000], except that the amount of a bond for a dealer who sells 21 only motorcycles shall be $25,000. The bond must be conditioned on the dealer's 22 (1) doing business in compliance with this chapter and the other laws 23 of this state; and 24 (2) not committing fraud or making fraudulent representations in the 25 course of doing business as a dealer. 26 * Sec. 3. AS 08.66 is amended by adding a new section to read: 27 Sec. 08.66.085. Insurance requirements. A dealer in motor vehicles shall 28 maintain public liability and property damage insurance on the dealer's operations in 29 the state in amounts of not less than $50,000 for damage to property, $100,000 for 30 injury, including death, to any one person, and $200,000 for injury, including death, to 31 more than one person.