4501:1-3-11 Dealer required to maintain net worth.

No dealer shall be issued a motor vehicle dealer's license or permitted to operate under a such license unless the dealer has a net worth, verifiable upon request by the registrar, in the sum of at least seventy-five thousand dollars.

Effective: 07/01/2009
R.C. 119.032 review dates: 11/14/2008 and 03/02/2014
Promulgated Under: 119.03
Statutory Authority: 4517.12 , 4517.32
Rule Amplifies: 4517.12
Prior Effective Dates: 6/15/62, 5/9/98