(1) If any person suffers loss or damage by reason of any fraud practiced on the person or fraudulent representation made to the person by a licensed dealer or one of the dealer's salespersons acting for the dealer on the dealer's behalf or within the scope of the employment of the salesperson or suffers any loss or damage by reason of the violation by the dealer or salesperson of any of the provisions of this part 1 that are designated by the board by rule, whether or not the violation is the basis for denial, suspension, or revocation of a license, the person shall have a right of action against the dealer, the dealer's motor vehicle salespersons, and the sureties upon their respective bonds. The right of a person to recover for loss or damage as provided in this subsection (1) against the dealer or salesperson shall not be limited to the amount of their respective bonds.

(2) If any person suffers any loss or damage by reason of any unlawful act as provided in section 44-20-124 (1)(a), the person shall have a right of action against the manufacturer, distributor, or manufacturer representative. In any court action wherein a manufacturer, distributor, or manufacturer representative has been found liable in damages to any person under this part 1, the amount of damages so determined shall be trebled and shall be recoverable by the person so damaged. Any person so damaged shall also be entitled to recover reasonable attorney fees as part of his or her damages.

(3) If any licensee suffers any loss or damage because of a violation of section 44-20-124 (1), the licensee shall have a right of action against the manufacturer, distributor, or manufacturer representative. In any court action wherein a manufacturer, distributor, or manufacturer representative has been found liable in damages to any licensee under this part 1, any licensee so damaged shall also be entitled to recover reasonable attorney fees and costs as part of his or her damages.