Motor Vehicle Sales Finance / Installment Seller

  • This Act regulates certain installment sales of motor vehicles; prescribes the conditions under which such sales may be made and regulates the financing; regulates and licenses persons engaged in the business of making or financing such sales; prescribes the form, contents and effect of instruments used in connection with such sales and the financing; prescribes certain rights and obligations of buyers, sellers, persons financing such sales and others; limits charges in connection with such instruments and fixes maximum interest rates for delinquencies, extensions and loans; regulates insurance in connection with such sales; regulates repossessions, redemptions, resales and deficiency judgments and the rights of parties with respect; authorizes extensions, loans and forbearances related to such sales; authorizes investigations and examinations of persons engaged in the business of making or financing such sales; transfers certain powers and duties with respect to finance companies to the commissioner of the financial institutions bureau; and prescribes penalties.

How to Become Licensed

  • FIS 1028 PDF icon

    Installment Seller License Application, Procedures and Fees

  • FIS 2311 PDF icon

    Sales Finance License Application, Procedures and Fees