Louisiana Independent Auto Dealers Association (L.I.A.D.A.)

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www.legis.state.la.us

Senate Bill No. 256
ACT NO.131
By Senator Hollis

The seller may, in connection with any retail sale, including but not limited to a retail installment transaction, charge a fee for credit investigation, compliance with federal and state law, preparation of the documents necessary to perfect or satisfy a lien upon the objects sold, and any other functions incidental to the titling of the retail sale. The maximum amount permitted to be charged shall be ONE HUNDRED DOLLARS.

Senate Bill No. 256
Act No. 131
By Senator Hollis

All of the following shall be exempt from the licensing requirements of this Chapter:
Licensed motor vehicle dealers to the extent that they regularly sell, assign, and transfer contracts originated by them to third party assignees within sixty days following origination. A licensed motor vehicle dealer may retain at any one time, and from time to time thereafter, a maximum of twelve contracts for its own account without being subject to the licensing requirements of this Chapter.