NJ S4614

Motor vehicle franchisors with a primary place of business in New Jersey may sell, lease, or assign vehicles to their own employees or to employees of their affiliates/subsidiaries operating in the state

Such franchisors will receive a new motor vehicle dealer license designated with the letter "M," which does not authorize retail sales to the general public

Vehicles may also be provided to individuals or entities for promotional, testing, marketing, or product familiarity purposes, limited to an aggregate of 50 total vehicles for these purposes

Each employee sale or lease must be accompanied by proof of employment, which the franchisor must retain on file for a minimum of four years

Franchisors licensed under this provision are exempt from maintaining a place of business with floor space for servicing or displaying vehicles and from exterior sign requirements