LRB-1087/1
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1999 - 2000 LEGISLATURE
May 11, 1999 - Introduced by Senators Breske and Welch, cosponsored by
Representatives Brandemuehl, Ryba, Vrakas and
Huber. Referred to
Committee on Insurance, Tourism, Transportation and Corrections.
SB149,1,3
1An Act to amend 218.01 (2) (a) of the statutes;
relating to: the licensing of motor
2vehicle dealers, motor vehicle salespersons and sales finance companies and
3providing a penalty.
Analysis by the Legislative Reference Bureau
Current law requires all motor vehicle dealers and salespersons to be licensed
by the department of transportation (DOT). In addition, all sales finance companies
are required to be licensed by the division of banking in the department of financial
institutions. Failure to comply with any of these licensing requirements may result
in a fine of not less than $500 nor more than $5,000.
This bill changes the penalty that may be imposed on an unlicensed motor
vehicle dealer, motor vehicle salesperson or sales finance company to a forfeiture of
not less than $500 nor more than $5,000.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB149, s. 1
4Section
1. 218.01 (2) (a) of the statutes is amended to read:
SB149,2,65
218.01
(2) (a) No motor vehicle dealer, motor vehicle salesperson or sales
6finance company shall engage in business as such in this state without a license
1therefor as provided in this section. If any motor vehicle dealer acts as a motor
2vehicle salesperson, he or she shall secure a motor vehicle salesperson's license in
3addition to a license for motor vehicle dealer. Every motor vehicle dealer shall be
4responsible for the licensing of every motor vehicle salesperson in his or her employ.
5Any person violating this paragraph may be
fined
required to forfeit not less than
6$500 nor more than $5,000.
SB149,2,98
(1) This act first applies to violations committed on the effective date of this
9subsection.
