Virginia Administrative Code › Title 24 - TRANSPORTATION AND MOTOR VEHICLES › Agency 22 - MOTOR VEHICLE DEALER BOARD › Chapter 30 - MOTOR VEHICLE DEALER ADVERTISING PRACTICES AND ENFORCEMENT REGULATIONS › Part I - General Provisions › Section 24VAC22-30-20 - Definitions

Current through Register Vol. 40, No. 24, July 15, 2024
The following words and terms, when used in this chapter,
					 shall have the following meanings unless the context clearly indicates
					 otherwise:
"Act" means Chapter 15 (§ 46.2-1500 et seq.) of Title
					 46.2 of the Code of Virginia.
"Administrative penalties" means the denial, suspension or
					 revocation of a license as allowed in § 46.2-1576 of the Act and based on
					 one or more of the grounds specified in § 46.2-1575 of the Act.
"Advertisement" means an oral, written, graphic or
					 pictorial statement made in the course of soliciting business, including,
					 without limitation, a statement or representation made in a newspaper,
					 magazine, or other publication, or contained in a notice, sign, poster,
					 display, circular, pamphlet, or letter, or on radio, the Internet, or via an
					 online online computer service, or on television. The term does not include an
					 in-person oral communication by a dealer's employee with a prospective
					 customer.
"Advertiser" means same as licensee.
"Board" means the Motor Vehicle Dealer Board of this
					 Commonwealth.
"Civil penalty" means the monetary assessment imposed by
					 the board or the executive director against a licensee not to exceed $1,000 for
					 any single violation of § 46.2-1581 of the Code of Virginia.
"Disclaimer" means those words or phrases used to provide
					 a clear understanding or limitation to an advertised statement but not used to
					 contradict or change the meaning of the statement.
"Disclosure" means a statement in clear terms of the
					 dollar amounts, time frames, down payments and other terms which may be needed
					 to provide a full understanding of credit terms, periodic payment, interest
					 rates, time payment plans, etc.
"Executive director" means the Executive Director of the
					 Motor Vehicle Dealer Board of this Commonwealth.
"Internet" means the international network of computer
					 systems commonly known as the "Internet".
"License" means the document issued to a Virginia motor
					 vehicle dealer and which permits such dealer to engage in the business of
					 buying and selling new and used motor vehicles or used motor vehicles
					 only.
"Licensee" means any person, partnership, association,
					 corporation or entity which is required to be licensed as a motor vehicle
					 dealer in this Commonwealth.
"Line-make marketing group" means an association of motor
					 vehicle dealers franchised to sell and advertise the same line-make of new
					 motor vehicles.
"Manufacturer's factory invoice" or "distributor's
					 invoice" means that document supplied by the manufacturer or the distributor
					 listing the manufacturer's or distributor's charge to the dealer before any
					 deduction for items such as holdback, group advertising, factory incentives or
					 rebates, or any governmental charges.
"New motor vehicle" means the same as defined in §
					 46.2-1500 of the Code of Virginia.
"Online service" means any information service, system, or
					 access software provider that enables computer access by multiple users to a
					 computer server, including specifically a service or system that provides
					 accesses to the Internet.
"Repossessed vehicle" means a vehicle which meets all of
					 the following criteria. It has:
1.
				  Been sold, titled, registered, and taken back from a purchaser for nonpayment;
				  and
2. Not yet been resold to an
				  ultimate user.
"Sale" means there is a significant reduction from the
					 advertiser's usual and customary price of a motor vehicle and the offer is for
					 a limited period of time.
"Used motor vehicle" means the same as defined in §
					 46.2-1500 of the Code of Virginia.
Statutory Authority: §§ 46.2-1506 and
						46.2-1582 of the Code of Virginia.