Loading chat...
ID H0167
Bill
Status
3/22/2013
Primary Sponsor
Transportation and Defense Committee
Click for details
AI Summary
House Bill 167 Summary
-
Removes the nonvoting member position from the Dealer Advisory Board that represented motorcycle and ATV dealers, making that seat a voting position like all others.
-
Establishes the Idaho Consumer Asset Recovery Fund (ICAR) to satisfy unpaid judgments for fraud, fraudulent representation, or violations of motor vehicle laws and federal safety standards.
-
Creates the Idaho Consumer Asset Recovery Control Board, comprised of the transportation department director and dealer advisory board members, to administer the fund and set annual fees on motor vehicle dealer license applicants.
-
Sets maximum claim limits of $50,000 per single transaction and $120,000 aggregate per licensee, with claims prorated when exceeding aggregate limits and paid in order received.
-
Requires new motor vehicle dealers to maintain surety bonds for three consecutive years and establishes dealer reimbursement obligations to the fund within 30 days of payment, with license suspension or revocation as penalty for non-compliance.
Legislative Description
Amends and adds to existing law relating to motor vehicle dealers and salesmen to remove provisions relating to a nonvoting member of the Dealer Advisory Board; to establish provisions relating to the Idaho Consumer Asset Recovery Fund, to establish provisions relating to expenditures from such fund and claims against such fund; to establish provisions relating to the creation of the Idaho Consumer Asset Recovery Control Board; and to establish provisions relating to fees, claims and reimbursements to the fund.
MOTOR VEHICLE DEALERS AND SALESMEN
Last Action
Reported Signed by Governor on March 22, 2013 Session Law Chapter 136 Effective: 07/01/13
3/22/2013