A dealer that is planning to go out of business for any reason they must notify the Regional Office of this action. Once the Division has been notified they will start the process of a Voluntary Relinquishment of License (VRL). The dealer is expected to conclude all business prior to signing the VRL. The Dealer is responsible for any pending transactions and The Division Of Motorist Services will not authorize for the termination of the dealer license until all transactions that have been presented to the Division have been completed. Upon signing the VRL, the dealer must turn in:

When a dealer goes out of business and they do not notify the Division they will be held liable for any actions that may have occurred with the use of that dealer license.

A dealer planning to go out of business cannot transfer or assign a dealer license to another party. Dealer licenses may not be sold as part of a dealer’s business in a franchised dealership. A new owner obtaining the benefits of a dealership does not obtain the benefits of an existing dealer license. Therefore, the new owners/principals must apply for a new dealer license in their own name. Court orders directing the transfer of dealership assets are no exception.