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Indiana Code Title 9. Motor Vehicles § 9-32-2.1-7

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 7. (a) “Broker” means a person that, for a fee, a commission, or other valuable consideration, arranges or offers to arrange a transaction involving the sale, for purposes other than resale, of a new or used motor vehicle and that is not, at any point in the transaction, the bona fide owner of the motor vehicle involved in the transaction.

(b) The term does not include:

(1) a dealer licensed under this article or an employee of a dealer licensed under this article acting in an employment arrangement with the dealer, if the motor vehicle being sold is a motor vehicle in the dealer's inventory or is subject to a consignment agreement between the dealer and the owner of the motor vehicle;

(2) a distributor licensed under this article, or an employee of a distributor licensed under this article and acting in an employment arrangement with the distributor, if the sale being arranged is a sale to a dealer licensed under this article;

(3) a manufacturer licensed under this article, or an employee of a manufacturer licensed under this article and acting in an employment arrangement with the manufacturer, if the sale being arranged is a sale to a dealer licensed under this article;  or

(4) a lead generation or other marketing service, if:

(A) the fee for the service is not based on whether the lead provided by the service generated a sale for the dealer;  and

(B) the service does not have an active role in the negotiation of a sale, including negotiating the price of the motor vehicle.

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Cite this article: FindLaw.com - Indiana Code Title 9. Motor Vehicles § 9-32-2.1-7 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-9-motor-vehicles/in-code-sect-9-32-2-1-7/

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