Section 140.028. When financial information is required.

 

(1)  The department may require a motor vehicle dealer or any other business licensed under ch. 218 , Stats. , or any applicant for such licenses, to submit information relating to its financial standing, solvency, or responsibility under any one of the following circumstances:

(a) The department has reasonable cause to doubt the financial responsibility of the applicant or licensee.

(b) The department has reasonable cause to doubt the applicant or licensee's compliance with ch. 218 , Stats. , or its related rules, where the violation constitutes grounds for suspension or revocation of a license. "Reasonable cause" includes a situation in which the licensee, applicant or employees of the licensee or applicant have been found by the department to have violated ch. 218 , Stats. , or rules interpreting ch. 218 , Stats. , anytime during the current or the immediately previous licensing period.

(c) The applicant or licensee is a motor vehicle salvage dealer that has not supplied a bond per s. 218.21 (4) (a) , Stats., under the conditions specified in s. 218.0114 (20) (b) , Stats.

(d) The applicant or licensee is a recreational vehicle dealer.

(e) The applicant or licensee is a wholesaler.

(f) The applicant or licensee is a moped dealer.

(2)  Failure to provide the financial information required under sub. (1) shall be grounds for denial or revocation of the license.

History: Cr. Register, February, 1996, No. 482 , eff. 3-1-96; correction in (1) (c) made under s. 13.92 (4) (b) 7. , Stats., Register March 2012 No. 675 .

Note

Provisions for protection of trade secrets are found in ss. 19.36 (5) , 134.90 (1) (c) and 218.0114 (20) (c) , Stats. Microsoft Windows NT 6.1.7601 Service Pack 1