152. Every person applying for a dealer’s licence must furnish security to the Société.
Such security guarantees to the owner of a stolen road vehicle, sold by the dealer, reimbursement of the price the owner has paid to any buyer of the vehicle in order to recover possession thereof by way of revendication as stolen property. The dealer and his surety are jointly and severally liable for the reimbursement of the price paid by the owner.
Such security also guarantees execution of a judgment or of a transaction terminating a civil suit instituted under the Consumer Protection Act (chapter P-40.1), opposing a consumer and the holder of a licence.
1986, c. 91, s. 152; 1990, c. 19, s. 11.