006.05.402. DEALER/LIENHOLDER REGISTRATION AND TITLE APPLICATION REGULATION
AR ADC 006.05.402Arkansas Administrative Code
Ark. Admin. Code 006.05.402
006.05.402. DEALER/LIENHOLDER REGISTRATION AND TITLE APPLICATION REGULATION
Pursuant to authority given the Commissioner of Revenues by subsection (b) of Section 1 of Act 293 of 1991 (Ark. Code Ann. §§ 27-14-906(b)), after the effective date of this regulation, lienholders and motor vehicle dealers may apply for registration and certificates of title on behalf of the purchasers of new or used vehicles.
7) If a dealer or lienholder fails to exercise the authority granted herein to apply for registration and issuance of a title on the behalf of a purchaser, and such action results in the failure of the dealer or lienholder to comply with the provisions of Ark. Code Ann. §§ 27-14-802 or §§ 27-14-806 for the perfection of their security interest in the vehicle, the dealer or lienholder shall have no recourse against the Department of Finance and Administration for any damages resulting from such failure to perfect a security interest.
Current with amendments received through January 15, 2024. Some sections may be more current, see credit for details.
Ark. Admin. Code 006.05.402, AR ADC 006.05.402
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