Lease agreement

Lease agreement. (1) Motor vehicle dealers and wholesalers shall furnish a copy of a signed lease agreement with the dealer license application whenever first applying for a license for a business location, unless the business property is owned by the dealership entity. (2) Such lease agreement shall name the dealer applicant as lessee and shall contain the following items: (a) Names of parties to the agreement; (b) Consideration for lease agreement; (c) Description of business premises; (d) Terms of lease; and (e) Signatures of parties to the agreement.