This bill amends existing regulations regarding the inspection of records related to online motor vehicle sales in New Jersey. It removes the requirement that non-physical, electronic records be maintained in a format allowing for immediate inspection, instead stipulating that these records must be kept in a format that allows for inspection and examination by the Chief Administrator of the New Jersey Motor Vehicle Commission or their agent. Additionally, the bill clarifies that licensees must maintain a physical presence in the state and can only conduct online sales of vehicles that are part of their inventory or that of a licensed parent or affiliate.

Furthermore, the bill introduces a new requirement for the Chief Administrator or a designee to provide one business day of advanced written notice before entering the premises of any individual or entity engaged in the motor vehicle business for the purpose of examining their books and records. This change aims to enhance the operational framework for online vehicle sales while ensuring compliance with regulatory oversight. The bill is set to take effect immediately upon passage.

Statutes affected:
Introduced: 39:10-19.5