Motor Vehicle Commission - Sales Finance public meetings in 2020
4 substantive meetings from 2020, with official agendas or minutes and plain-English summaries.
Motor Vehicle Commission - Sales Finance
The Motor Vehicle Sales Finance Division will ratify a list of sales finance company licenses and GAP administrator agent licenses. The meeting also includes an executive session for personnel matters and legal advice, and approval of previous minutes.
- Ratification of sales finance licenses for 20 companies including Arcola Auto Sales, Rocket Auto Sales, Sterling Automotive, and others
- Ratification of GAP administrator agent licenses #GAA-2020-00145 through #GAA-2020-00147
- Executive session for personnel matters and legal advice
- Reading and approval of minutes from August 10, 2020
The Commission unanimously approved the minutes from the August 10, 2020 meeting and the financial statements for August and September. The board also ratified a series of initial and existing motor vehicle sales finance licenses and GAP Administrator Agent licenses.
- Approved August 10, 2020 meeting minutes (unanimous)
- Approved August and September financial statements (unanimous)
- Ratified initial sales finance licenses for 23 applicants including Arcola Auto Sales, Inc. and Osprey Credit, LLC (unanimous)
- Ratified sales finance licenses #SF-2019-01365 through #SF-2019-01366 and #SF-2020-01320 through #SF-2020-01355 (unanimous)
- Ratified GAP Administrator Agent licenses #GAA-2020-00145 through #GAA-2020-00147 (unanimous)
Motor Vehicle Commission - Sales Finance
The Motor Vehicle Sales Finance Division will meet via Zoom to discuss Top 10 Motorsports, hear reports, and enter executive session for personnel and legal matters. The main action is ratification of numerous sales finance licenses and one GAP administrator license issued since the last meeting.
- Ratification of 60+ sales finance licenses (e.g., Fontainebleau Auto Sales, Gretna Auto Depot, VIP Motors, Toyota Motor Credit Corporation)
- Ratification of GAP administrator license for HUB Financial Services (Lewisville, TX)
- Discussion of Top 10 Motorsports
- Executive session for personnel matters and legal advice
The Commission enacted an emergency rule suspending license renewal fees for Louisiana-based motor vehicle finance businesses and administrators through June 30, 2021. The board also ratified numerous sales finance and GAP administrator licenses and approved a consent judgment for Dealmakers, L.L.C.
- Suspended license renewal fees for Louisiana-based business licensees from July 1, 2020, through June 30, 2021
- Approved Consent Judgment for Dealmakers, L.L.C. including a $1,000 fine ($1,000 suspended on one-year probation) and $400 pre-hearing cost (Unanimous)
- Ruled that 'Top 10 Motorsports' name does not violate advertising rules (Majority vote; Commissioner Westbrook voted nay)
- Determined applicants using 'broker' in their name must obtain a broker license or change their name
- Ratified initial motor vehicle sales finance licenses for 75 applicants (Unanimous)
- Ratified initial GAP Administrator license for HUB Financial Services (Unanimous)
- Ratified licenses #SF-2019-01361 through #SF-2020-01319, #GA-2020-00127, #GA-2020-00151, and #GAA-2020-00139 through #GAA-2020-00144 (Unanimous)
- Accepted March, April, May, June, and July financial statements (Unanimous)
Motor Vehicle Commission - Sales Finance
The Motor Vehicle Sales Finance Division will meet to ratify a list of sales finance company licenses and GAP administrator licenses. The agenda also includes an executive session for personnel matters and legal advice, and reading of minutes from the previous meeting.
- Ratification of Sales Finance Licenses: Berryland Motors, MBC Metairie, Joel's Auto Sales, Bill Hood Ford, Southeast Auto, American Honda Finance, Zal LLC, Triple M Sales, TA Auto Sales, Bryan Imports, Finesse Automotive, Sugarland Auto Sales, Lake Charles Finance & Mortgage, Keep It Clean Auto Sales, Lloyd Patout, Get A Car LLC, Tickfaw 51 Auto Sales, Metairie Motors LLC, ArkLaTex AutoWorld, Jonathan Johnson
- Ratification of GAP Administrator Licenses: SilverRock Automotive, Inc. (Tempe, AZ) and Axiom Product Administration, LLC (O'Fallon, MO)
- Ratification of license ranges: Sales Finance #SF-2019-01356 through #SF-2019-01360 and #SF-2020-00232 through #SF-2020-01031; GAP Administrator #GA-2020-00127 through #GA-2020-00151; GAP Administrator Agents #GAA-2020-00078 through #GAA-2020-00138
- Executive session for personnel matters and legal advice
- Reading and approval of minutes from January 6, 2020
The Commission approved a $2,500 fine and one-year probation for Bolton-Westmoland, Inc. regarding licensing violations. Members also ratified several new motor vehicle sales finance and GAP Administrator licenses.
- Approved Consent Judgment for Bolton-Westmoland, Inc. including $2,500 fine (unanimous)
- Approved January 6, 2020 meeting minutes (unanimous)
- Approved January and February financial statements (unanimous)
- Ratified initial motor vehicle sales finance licenses for 20 applicants (unanimous)
- Ratified initial GAP Administrator licenses for SilverRock Automotive, Inc. and Axiom Product Administration, LLC (unanimous)
- Ratified various existing motor vehicle sales finance, GAP Administrator, and GAP Agent licenses (unanimous)
Motor Vehicle Commission - Sales Finance
The Motor Vehicle Sales Finance Division will ratify previously issued sales finance licenses for numerous companies, discuss a matter involving Best Buy Used Car, and hold an executive session for personnel and legal advice. The meeting also includes approval of minutes from September 16, 2019.
- Discussion: Best Buy Used Car
- Ratification of Sales Finance Licenses for 22 companies (e.g., CarFinance.com LLC, Creditone L.L.C., Carvana FAC LLC)
- Ratification of additional licenses: Sales Finance #SF-2020-00211, GAP Administrator, and GAP Administrator Agents
- Executive session: Personnel matters and legal advice
- Reading and approval of minutes from September 16, 2019
The Commission approved the renewal of Counselor Burgess E. McCranie, Jr.'s legal contract and ratified multiple motor vehicle sales finance and GAP administrator licenses. The Commission also denied a request from Thanh Bui to use the term "Best" in a corporate name, citing an advertising violation.
- Denied use of term 'Best' in corporate name for Thanh Bui
- Renewed Counselor Burgess E. McCranie, Jr.'s contract for one year not to exceed $50,000.00 (Unanimous)
- Approved minutes of the September 16, 2019 meeting (Unanimous)
- Approved September, October, November, and December financial statements (Unanimous)
- Ratified initial motor vehicle sales finance licenses #SF-2019-01334 through #SF-2019-01355 and #SF-2020-00211 (Unanimous)
- Ratified sales finance licenses #SF-2019-01334-#SF-2019-01355 and #SF-2020-00100-#SF-2020-00231 (Unanimous)
- Ratified GAP Administrator licenses #GA-2020-00100 and #GA-2020-00126 (Unanimous)
- Ratified GAP Administrator Agent licenses #GAA-2019-00141-#GAA-2019-00144 and #GAA-2020-00001-#GAA-2020-00077 (Unanimous)