§ 9-32-11-15 — Cessation of business activity

(a) A person who ceases a business activity
for which a license was issued under this article shall do the following:
(1) On a form prescribed by the secretary, notify the secretary of
the date that the business activity will cease.
(2) Deliver to the secretary the license and all permanent dealer
license plates, including dealer designee license plates, issued to
the person not later than ten (10) days after the date the business
activity ceased.
(b) A dealer may not transfer or sell the:
(1) dealer's license;
(2) use of the dealer's license;
(3) dealer's dealer license plates; or
(4) use of the dealer's dealer license plates.
(c) A dealer that changes its form of organization or state of
incorporation may continue the dealer's licensure by filing an
amendment to the license and registration if the change does not
involve a material fact in the financial condition or management of the
dealer. The amendment becomes effective when filed or on the date
designated by the dealer in its filing. The new organization is a
successor to the original dealer for the purposes of this article.
(d) If there is a change in the dealer's ownership, the successive
owner shall file a new application for a license under this chapter.

Legislative History

As added by P.L.92-2013, SEC.78. Amended by P.L.151-2015, SEC.72; P.L.174-2016, SEC.93; P.L.179-2017, SEC.91; P.L.120-2020, SEC.67.