1. The Division shall adopt regulations for the issuance and renewal of a limited dealer’s license authorizing a person other than a bank, savings and loan association, savings bank, credit union, thrift company or other financial institution to act as a repossessor or liquidator concerning manufactured homes, mobile homes or commercial coaches.
2. Regulations adopted by the Division concerning the issuance and renewal of a limited dealer’s license must not require more than 2 hours of continuing education per year and the required continuing education must be limited to topics relating to the processes and procedures for the sale of a manufactured home.