HI HB572

Requires annual inspections of used motor vehicle dealer sites by the motor vehicle industry licensing board with a $250 inspection fee per license application or renewal.

Mandates motor vehicle insurance under section 431:10C-104 for all vehicles prior to transfer from auction and for used motor vehicle dealers seeking licensure.

Adjusts used motor vehicle dealer line of credit requirement from fixed $50,000 to an amount determined by the board not exceeding $100,000.

Authorizes bond alternatives to flooring lines of credit in an amount up to 50% of the applicable line of credit for periods not exceeding three years when credit cannot reasonably be obtained.

Requires dealer applicant sites to be zoned to allow motor vehicle sales and establishes proof of insurance requirements for used vehicle dealers, excluding new vehicle and auction license holders.