(a) A person shall not engage in the business of selling or exchanging vehicles or motorboats, as defined in subdivision 4(8) of this title, without a dealer registration and obtaining dealer plates or motorboat registrations in accordance with the provisions of this subchapter and, if applicable, section 3204, 3305, or 3504 of this title. A person may register as a dealer only if he or she is engaged in the business of selling or exchanging vehicles or motorboats, as defined in subdivision 4(8) of this title or, in the case of an initial registration, if the person's reasonable estimate of expected sales or exchanges satisfies the minimum thresholds under subdivision 4(8) of this title. A person who violates this section shall be subject to the penalties established pursuant to section 475 of this title.

(b) A person who misrepresents himself or herself as a dealer in the purchase, sale, or exchange of a vehicle or motorboat without registering as a dealer, or after the cancellation, suspension, or revocation of the dealer's registration, or who makes misrepresentations to the Department in order to qualify for registration, shall be subject to the penalties established pursuant to section 475 of this title. (Added 1965, No. 204, § 7; 1985, No. 12, § 2; amended 1987, No. 190 (Adj. Sess.), § 7; 1989, No. 204 (Adj. Sess.), § 2; 1999, No. 31, § 11; 2015, No. 50, § 2.)