(1) Except as provided in subsection (2) of this section, a license shall not be issued by the commission for the purposes described in KRS 190.030(1) and to motor vehicle dealers or new recreational vehicle dealers, either as dealer or salesman, unless the applicant for the license has an established place of business as defined in KRS 190.010 or, for recreational vehicles as defined in KRS 190A.010, and as provided by regulation of the commission consistent with the activity of the license applied for. A licensee may conduct more than one (1) business in a building otherwise meeting the requirements of this chapter providing he has suitable space and adequate facilities therein to properly conduct the business of a motor vehicle dealer. The lot requirement of this section may be waived if the dealer has sufficient space within a building to properly show and display the motor vehicles or new recreational vehicles being sold by him. The dealer shall display a sign easily visible from the street identifying his business.
(2) The provisions of this section shall not apply to a nonprofit motor vehicle dealer.