Section 5-112 - Nontransferability of dealer's license; new place of business.
§ 5-112. Nontransferability of dealer's license; new place of business.
(a) Nontransferability of dealer's license.- A dealer's license is not transferable.
(b) Notice to Secretary of new place of business.- Before moving a place of business, a licensee shall inform the Secretary and surrender the dealer's license.
(c) New dealer's license for new place of business.- If a cause to revoke the dealer's license does not exist, the Secretary shall issue a new dealer's license without charge covering the new place of business for the rest of the term of the surrendered dealer's license.
[An. Code 1957, art. 27, § 443(b)(3); 2003, ch. 5, § 2.]