46.2-602.2 - Titling and registration of company vehicles of automotive manufacturers.
§ 46.2-602.2. Titling and registration of company vehicles of automotivemanufacturers.
For the purpose of this section:
"Automotive manufacturer" means the entire worldwide affiliated group asdefined in § 58.1-3700.1, as of July 31, 2007, if at least one member of theworldwide affiliated group is an automotive manufacturer, as classified underthe 2007 North American Industry Classification System Codes 3361, 3362, and3363 in effect as of December 31, 2007.
"Company vehicles" means the following vehicles owned or operated by anautomotive manufacturer having its headquarters in Virginia:
1. Vehicles used for sales or service training, advertising, publicrelations, quality control, and emissions or other testing and/or evaluationpurposes;
2. Vehicles used for headquarters-related purposes, including but notnecessarily limited to use by visiting executives or employees;
3. Vehicles provided for use by eligible headquarters employees or theireligible family members in compliance with established corporate policies asmay from time to time be in effect, but not more than four vehicles may beleased for the benefit of any eligible headquarters employee at any one time;and
4. All other vehicles deemed by the automotive manufacturer to serve aheadquarters function, but excluding any vehicles provided for use byeligible headquarters employees or their eligible family members incompliance with established corporate policies.
"Family members" means the spouse of an employee, and the children andparents of an employee or an employee's spouse.
"Headquarters" means a facility at which company employees are physicallyemployed and at which the majority of the company's financial, personnel,legal, or planning functions are handled either on a regional or nationalbasis.
Each automotive manufacturer having its headquarters in the Commonwealthshall be issued a motor vehicle dealer license or equivalent permit by theCommissioner. Such license or permit shall authorize the automotivemanufacturer to dispose of company vehicles using a manufacturer'scertificate of origin, but if disposed of within the Commonwealth ofVirginia, such vehicles may only be transferred to a new motor vehicle dealerholding a franchise for the automotive manufacturer's line-make, providedeach vehicle is transferred with a designation indicating that it is not anew motor vehicle as defined in § 46.2-1500. The automotive manufacturer andits affiliates may sell used motor vehicles directly to its lessees.
An automotive manufacturer having its headquarters in the Commonwealth mayobtain a title for any company vehicle, but issuance of any such title shallbe exempt from all fees except for the fee for issuance of a certificate oftitle as provided in § 46.2-627.
All company vehicles used as provided in this section may be driven usinglicense plates issued and affixed as provided in Article 5 (§ 46.2-1546 etseq.) of Chapter 15. All such vehicles shall be classified as merchants'capital and subject to merchants' capital tax pursuant to Article 3 (§58.1-3509 et seq.) of Chapter 35 of Title 58.1.
(2008, cc. 304, 753.)