Sec. 78.7. Assumed names

(a) Whenever a dealer files a certificate of doing business under an assumed name with the county clerk, the dealer shall also file a copy of the certificate with the commissioner. Thereafter, the dealer may do business in either his real name or his assumed name. A dealer may have any number of assumed names without needing additional dealer registrations if every assumed name begins with the same word or name. However, if the assumed names begin with different words or names, then a separate dealer registration is required for each name.

Example:

John B. Smith Motor Cars, Inc., may have the assumed names John B. Smith Ford, John Boy Chevrolet and John and Jill Toyota under a single-dealer registration. The assumed names Johnny's Dodge, Honest John Buick and JBS Volkswagen would require three-dealer registrations.

(b) When a dealer sells a vehicle for which the proof of ownership is in an assumed name, the certificate of sale (form MV-50) shall be written in the dealer's actual name d/b/a the assumed name.

Example:

Triple Q Ford, Inc., a registered dealer is permitted to do business under the assumed name Triple Q Jaguar. When the dealer receives a Manufacturer's Certificate of Origin from Jaguar Manufacturing Corporation, it is made out to Triple Q Jaguar. When the car is sold, the name of the dealer must appear on the MV-50 as Triple Q Ford, Inc. d/b/a Triple Q Jaguar.

(c) A dealer will be responsible for all transactions conducted by it, whether in real name or assumed name. Any suspension or revocation action, or imposition of a civil penalty, will apply to all dealer registrations at one location.