32-6B-10. Manufacturer's contract or franchise prerequisite to license for dealer in new vehicles. No dealer's license may be issued to a person who desires to sell or offer for sale new vehicles until the applicant furnishes written proof, satisfactory to the department, that the person has a bona fide contract or franchise in effect in this state with the manufacturer of the vehicle the person proposes to deal in. For the purposes of this section, written proof which does not adequately capture the intent of both the applicant and the manufacturer to be bound by the subject franchise or bona fide contract may be deemed insufficient by the department.
Source: SL 1986, ch 250, § 11; SL 2010, ch 156, § 3, eff. Mar. 9, 2010.
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