Section 125.1407. Retailer termination.

(1) Immediately upon determining to terminate, a retailer shall do all of the following:

(a)    By certified mail, notify the department of its proposed termination:

(b)      By certified mail, notify each purchaser of a new or pre-owned home who within 1 year before the proposed termination date, purchased a home from the retailer that the retailer shall be terminated. The notification shall clearly state the responsibilities for future service and repair under  guarantees  and warranties, financial claims, and all other retailer claims and obligations previously issued under the purchase agreement.

(2)      A terminated retailer shall retain all accounts and records prescribed by these rules for 4 years after the date of retailer termination.

(3)     If required, a retailer who terminates shall surrender all   accounts and records to the department.

(4)     The person from whom records are requested shall provide the records to the department not later than 15 days after the date the person receives written notice of the request, unless advised otherwise by the department.

(5)      A retailer that is terminating shall post a sign which states that the retailer is terminating.

History: 1979 AC; 1998 AACS; 2003 AACS.