Discontinuance or transfer of business; change of address.

(1) Whenever a person ceases to engage in business as a motor carrier within this state by reason of the discontinuance, sale, or transfer of the business of such person, the person shall notify the department in writing at least 10 days before the time the discontinuance, sale, or transfer takes effect. Such notice must give the date of discontinuance and, in the event of a sale or transfer of the business, the date thereof and the name and address of the purchaser or transferee. All motor fuel use taxes are due and payable concurrently with such discontinuance, sale, or transfer; any such person shall, concurrently with such discontinuance, sale, or transfer, make a report and pay all such taxes, interest, and penalties; and the fuel tax decals must be destroyed and the motor carrier to whom the decals were issued shall notify the department by letter of their destruction and of the numbers of the fuel tax decals that were destroyed.

(2) Unless notice has been given to the department as provided in subsection (1), such purchaser or transferee is liable to the state for the amount of all taxes, penalties, and interest under the laws of this state accrued against the person selling or transferring his or her business on the date of such sale or transfer, but only to the extent of the value of the property and business thereby acquired from such motor carrier.

(3) Nothing in this section shall be construed as releasing the motor carrier so transferring or discontinuing his or her business from liability for any taxes or for any interest or penalty due under the provisions of this chapter.

(4) Every motor carrier shall submit in writing to the department any change in address of his or her principal place of business within 10 days after such change becomes effective.