A.R.S. § 28-4419 Required and Prohibited Activities

• Library: Arizona Statutes
• Edition: 2023
• Currency: Current through L. 2023, ch. 205
• Year: 2023
• Citation: A.R.S. § 28-4419

If providing a service of arranging or assisting in effecting the purchase of a motor vehicle by a retail consumer, a broker or motor vehicle dealer licensed pursuant to this chapter:

1. Shall:

(a) Execute a written brokering agreement and provide a completed copy to both of the following:

(i) The retail consumer entering into the brokering agreement. The completed copy shall be provided before the retail consumer signs an agreement for the purchase of the motor vehicle described in the brokering agreement or before the broker or motor vehicle dealer accepts one hundred dollars or more from the retail consumer, whichever occurs first.

(ii) The selling motor vehicle dealer. The completed copy shall be provided before the selling motor vehicle dealer enters into a purchase agreement with the retail consumer.

(b) On demand of a retail consumer, refund any purchase money, including purchase deposits, at any time before the retail consumer signs a motor vehicle purchase agreement with a selling motor vehicle dealer of the motor vehicle described in the brokering agreement.

(c) On demand of a retail consumer, cancel a brokering agreement and refund any monies paid by a retail consumer, including a brokerage fee, under any of the following circumstances:

(i) If the final price of the brokered motor vehicle exceeds the purchase price listed in the brokering agreement.

(ii) If the motor vehicle delivered is not as described in the brokering agreement.

(iii) If the brokering agreement expires before the retail consumer is presented with a purchase agreement from a selling motor vehicle dealer that is arranged through the broker and that contains a purchase price at or below the price listed in the brokering agreement.