OAR 735-150-0205
Liquidation of Dealer Inventory Upon Closure of Dealership

(1)

Upon the closure of any vehicle dealership, a dealer, or former dealer:

(a)

Must immediately provide DMV Business Regulation Section a complete inventory of all vehicles in possession of the dealer, or former dealer, at the time of closure. The inventory must be in writing and must include, a description of each vehicle including; vehicle identification number, vehicle make, model and year. The inventory list must be submitted with a written plan to DMV to liquidate the vehicles and a proposed time frame in which to do so; and

(b)

Is strictly prohibited from adding to, or making a sale from the inventory in anyway other than as described in subsection (2) of this rule.

(2)

Upon the written approval of the DMV Business Regulation Section, all vehicles listed as inventory under section (1) of this rule must be liquidated by one of the following means:

(a)

The wholesale of the vehicles to another certified dealer, or by consignment to a certified auto auction authorized to wholesale vehicles to other dealers; or

(b)

Titling a limited number of vehicles in the name of the former dealer, subject to the requirements of ORS 822.015 (Exemptions from vehicle dealer certification requirement); or

(c)

Any combination of (a) or (b).

(3)

A dealer or former dealer described under this rule must maintain a record of all vehicles that are liquidated including:

(a)

The date and specific method(s), as described under section (2) of this rule, used to liquidate each vehicle;

(b)

If a vehicle is liquidated to another dealer, or certified auto auction, the name, certificate number and address of each dealer or auction to whom the vehicle was liquidated; and

(c)

A description of each vehicle including, the vehicle identification number, make, model and year.

(d)

This section also applies to inventoried vehicles that are not liquidated because they are subject to flooring agreements and have, or will be returned or surrendered to the financial institution or manufacturer holding an inventory financing security interest.

Source: Rule 735-150-0205 — Liquidation of Dealer Inventory Upon Closure of Dealership, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=735-150-0205.

735‑150‑0000
Authority and Purpose 735‑150‑0005
Oregon Dealer Advisory Committee 735‑150‑0010
Definitions 735‑150‑0015
Dealer Applications 735‑150‑0017
Acting as a Vehicle Dealer 735‑150‑0020
Exemptions From Vehicle Dealer Certification Requirement 735‑150‑0024
Investigation of Certificate Applications 735‑150‑0027
Refusal to Issue or Renew Vehicle Dealer Certificate 735‑150‑0030
Dealer Location Regulations 735‑150‑0031
Proof of Dealer Liability Insurance 735‑150‑0033
Display of Vehicles for Advertising 735‑150‑0035
Dealer Records 735‑150‑0037
Records 735‑150‑0039
Qualifications for Designation of Dealer as Agent 735‑150‑0040
Designation of Dealers as Agents 735‑150‑0041
Dealer Applications to Participate in the Electronic Vehicle Registration Program 735‑150‑0042
Vehicle Consignments 735‑150‑0045
Special Rules Concerning Recreational Vehicle Dealers 735‑150‑0047
Rules Concerning Dealer-Only Auctions 735‑150‑0050
Preparation and Submission of DMV Documents and Fees 735‑150‑0055
Dealer Document-Processing Fee 735‑150‑0060
Issuance of Temporary Registration Permits 735‑150‑0070
When Trip Permits May Be Issued by Dealers 735‑150‑0080
Requirements for Issuing Trip Permits 735‑150‑0105
Late Renewal of Dealer Certificate 735‑150‑0110
Dealer Offenses Subject to Civil Penalty or Sanction 735‑150‑0120
Sanctions 735‑150‑0130
Civil Penalty Consideration 735‑150‑0140
Schedule of Civil Penalties for Certified Dealers 735‑150‑0160
Civil Penalty Considerations 735‑150‑0170
Schedule of Violation Penalties, Unlicensed Dealer 735‑150‑0190
Contested Case Hearings and Disposition 735‑150‑0205
Liquidation of Dealer Inventory Upon Closure of Dealership 735‑150‑0250
Lien Claimant Records 735‑150‑0260
Civil Penalty Consideration, Lien Claimant Records
Last Updated

Jun. 8, 2021

Rule 735-150-0205’s source at or​.us