61-4-104. Record of purchase or sale. (1) (a) A dealer, wholesaler, or auto auction licensed under this part shall keep a book or record of the purchases, sales or exchanges, or receipts for the purpose of sale of used vehicles and a description of the vehicles, together with the date of purchase, sale, or consignment and the name and address of:
     (i) the person from whom the dealer or wholesaler acquired the vehicle's ownership or, if consigned, possessory interest in the vehicle;
     (ii) the person to whom the dealer, wholesaler, or auto auction assigned the vehicle; and
     (iii) a secured party with a perfected security interest in the vehicle to which the dealer's, wholesaler's, or auto auction's interest is subordinate, if any.
     (b) The vehicle description must also include the vehicle identification number and engine number, if any, and must include a statement that a number has been obliterated, defaced, or changed if that has occurred. In the case of a trailer, semitrailer, pole trailer, or special mobile equipment, the record must include the manufacturer's number and other numbers or identification marks that appear on the trailer, semitrailer, pole trailer, or special mobile equipment.
     (2) The dealer, wholesaler, or auto auction must also have an assigned certificate of ownership or certificate of title from the owner of the motor vehicle, power sports vehicle, or trailer to the dealer, wholesaler, or auto auction from the time the motor vehicle is delivered to the dealer, wholesaler, or auto auction until it has been disposed of by the dealer, wholesaler, or auto auction. It is a violation of this part for a dealer, wholesaler, or auto auction to fail to take assignment of all certificates of ownership, certificates of title, or manufacturer's certificates of origin for motor vehicles acquired by the licensee or to fail to assign the certificate of ownership, certificate of title, or manufacturer's certificate of origin for motor vehicles sold.
     (3) All records required to be kept in accordance with this section, in addition to the required retention of odometer disclosure information under 61-3-206(4), must be physically located and maintained within the building referred to in 61-4-101. An authorized representative of the department, upon presentation of the representative's credentials, may inspect and have access to and copy any records required under this chapter.

     History: En. Subd. 5, Sec. 1, Ch. 158, L. 1933; re-en. Sec. 1759.4, R.C.M. 1935; amd. Sec. 2, Ch. 72, L. 1937; amd. Sec. 2, Ch. 245, L. 1955; amd. Sec. 3, Ch. 256, L. 1965; amd. Sec. 1, Ch. 354, L. 1969; amd. Sec. 2, Ch. 226, L. 1971; amd. Sec. 2, Ch. 244, L. 1971; amd. Sec. 1, Ch. 535, L. 1977; R.C.M. 1947, 53-118(4); amd. Sec. 48, Ch. 421, L. 1979; amd. Sec. 3, Ch. 282, L. 1985; amd. Sec. 13, Ch. 503, L. 1985; amd. Sec. 5, Ch. 383, L. 1991; amd. Sec. 2, Ch. 221, L. 1997; amd. Sec. 24, Ch. 409, L. 1999; amd. Sec. 5, Ch. 299, L. 2003; amd. Sec. 73, Ch. 477, L. 2003; amd. Sec. 156, Ch. 542, L. 2005; amd. Sec. 36, Ch. 329, L. 2007.