(

a) No dealer shall engage in brokering a retail sales transaction without first paying the fee required by subdivision (

d) of

Section and obtaining from the department an autobroker’s endorsement to the dealer’s license. An autobroker’s endorsement shall be automatically cancelled upon the cancellation, suspension, revocation, surrender, or expiration of a dealer’s license. (

b) Upon the issuance of an autobroker’s endorsement to a dealer’s license, the department shall furnish the dealer with an autobroker’s log. The autobroker’s log shall remain the property of the department and may be taken up at any time for inspection. (

c) The autobroker’s log shall contain spaces sufficient for the dealer to record the following information with respect to each retail sale brokered by that dealer:

(1) Vehicle identification number of brokered vehicle.

(2) Date of brokering agreement.

(3) Selling dealer’s name, address, and dealer number.

(4) Name of consumer.

(5) Brokering dealer’s name and dealer number. (

d) Nothing in this code prohibits a dealer who has been issued an autobroker’s endorsement to his or her dealer’s license from delivering, with the selling dealer’s written approval, motor vehicles that have been sold pursuant to a duly executed motor vehicle purchase agreement or obtaining a consumer’s signature on a selling dealer’s motor vehicle purchase agreement that has already been executed by the selling dealer. (

e) When brokering a retail sale as an agent of the consumer, selling dealer, or both, the brokering dealer owes a fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings with its principal or principals. (

f) For purposes of this

section and Sections 11736, 11737, and 11738, “consumer” means any person who retains a dealer to perform brokering services in connection with a retail sale.