License required--Exceptions--Violation as misdemeanor

No person may engage in the business of selling, or may offer to sell, display, act as a broker, or advertise the sale of new or used snowmobiles, without a license. Any violation of this section is a Class 2 misdemeanor. Any subsequent violation that occurs within two years from any violation of this section is a Class 1 misdemeanor. The licensing requirements of this section do not apply to any regulated lenders as that term is defined in § 54-3-14 , any insurance company authorized to do business in this state, or any financing institution as defined in and licensed pursuant to chapter 54-4 that acquires snowmobiles as an incident to its regular business. Source: SL 1987, ch 223, § 2; SL 2014, ch 137, § 6.