Any license certificate issued by the department may be modified by indorsement to show a change in the name of the licensee, provided the majority ownership interest of the license has not changed or the name of the person appearing as franchisee on the sales and service agreement has not changed. Modification of a license certificate to show a change as provided does not require initial licensure or reissuance of dealer license plates. Every person licensed as a vehicle dealer shall display his license in a conspicuous place at his principal place of business.
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