§664-A. Resale by dealer

1.  Vehicle sold by dealer.  A vehicle that is sold by a dealer must be accompanied by a properly assigned and valid certificate of title or certificate of salvage at the time of its sale. A dealer may retain and process certificates of title and certificates of salvage at the dealer’s primary facility if in the case when the dealer displays a vehicle at an annex facility the dealer maintains a copy of the certificate of title or certificate of salvage at the annex facility.

[PL 2009, c. 598, §29 (AMD).]

2.  Vehicle held by dealer.  If a dealer holds a vehicle for resale and obtains the certificate of title or certificate of salvage, the dealer is not required to deliver the certificate to the Secretary of State.

[PL 1997, c. 437, §20 (NEW).]

3.  Transfer.  When transferring possession of a vehicle held for resale to a retail purchaser, a dealer shall comply with section 654.

[PL 1997, c. 437, §20 (NEW).]

4.  Unreleased security interest.  If a certificate of title shows an unreleased security interest, a dealer may not transfer possession of the vehicle unless the dealer possesses a properly released certificate of lien or the Secretary of State has issued a replacement certificate omitting the security interest under section 705.

[PL 2001, c. 671, §14 (AMD).]

5.  Sold at auction.  Except for a vehicle sold to a dealer at a vehicle auction licensed under section 852, a vehicle that is sold at an auction must be accompanied by a valid certificate of title or salvage at the time of its sale. The seller of a vehicle sold to a dealer at a vehicle auction licensed under section 852 must provide the purchasing dealer with a valid certificate of title or certificate of salvage within 30 days.

[PL 2011, c. 556, §6 (AMD).]

6.  Documentation.  A vehicle that is exempt under section 652 or a vehicle from a jurisdiction that does not issue certificates of title must be accompanied by information and documents to establish the ownership of the vehicle and the existence or nonexistence of a security interest in it.

[PL 1997, c. 437, §20 (NEW).]

7.  Penalty.  Violation of this section is a Class E crime.

[PL 1997, c. 437, §20 (NEW).]

SECTION HISTORY

PL 1997, c. 437, §20 (NEW). PL 2001, c. 671, §14 (AMD). PL 2009, c. 598, §29 (AMD). PL 2011, c. 556, §6 (AMD).