The "Used Motor Vehicle Dealer Licensing Act" establishes a State Board of Used Motor Vehicle Dealers in New Jersey, tasked with regulating the used motor vehicle dealership community. This board will set licensure standards, oversee dealership operations, and ensure that only qualified individuals can buy, sell, or deal in used motor vehicles. The act defines key terms and outlines licensure requirements, including age, moral character, residency, and a criminal history background check. It mandates that no person may operate as a used motor vehicle dealer without a valid license and details the board's authority to review applications, establish a code of ethics, and issue or revoke licenses.

Additionally, the bill amends existing motor vehicle laws to introduce new requirements for ownership and financing processes, including the filing of certificates of ownership and financing statements. It specifies that these documents must be signed by the buyer and outlines the necessary details to be included. The bill also sets forth licensing requirements for used motor vehicle dealers, detailing the process for off-site sales and the issuance of provisional permits. Importantly, it clarifies that the New Jersey Motor Vehicle Commission will no longer oversee dealer licensing, emphasizing the need for compliance with the new regulations to enhance consumer protection and maintain standards within the dealership community.

Statutes affected:
Introduced: 2C:33-26, 39:4-14.3, 39:10-19.1, 39:10-19.2, 39:10-19.3, 45:1-2.1, 45:1-3.1, 45:1-15