AK HB36

Motor vehicle dealer applications must now include telephone number of the business and a copy of insurance certificate documenting coverage required under AS 08.66.085.

Dealers must inform each person purchasing a vehicle that the dealer is registered and provide the dealer's registration number.

Bond requirement for dealer registration increased from $50,000 to $100,000, except motorcycle-only dealers remain at $25,000.

New requirement established for dealers to maintain liability insurance for bodily injury and property damage on an auto dealer's form.

Application must include statement that no person holding 5 percent or greater interest in the business has been convicted of fraud, embezzlement, or misappropriation of property within the preceding five years.