Ohio Admin. Code 4501:1-4-22 - Nature of and length of time records will be maintained
Persons licensed under Chapter 4738. of the Revised Code shall maintain a record of the following:
(A) All salvage motor vehicles purchased.
This record shall include, but not be limited to:
(1) Name of the previous owner.
(2) Serial number (vehicle identification
number).
(3) Title
number.
(4) Year and make of said
vehicle.
(5) Date and county where
title was surrendered.
(B) All salvage motor vehicles and salvage
motor vehicle parts sold. Sales invoice shall describe:
(1) Item(s) sold.
(2) Name and address of purchaser, except on
retail parts only sales.
(3) Sales
price.
(C) In addition,
each retail sale of a salvage motor vehicle shall:
(1) Be preceded by a written instrument or
contract that shall contain all the agreements of the parties and shall be
signed by the buyer
authorized purchaser .
(2) The dealer shall, upon execution of the
agreement or contract and before the delivery of the motor vehicle, deliver to
the buyer
authorized purchaser a copy of the agreement or
contract that shall clearly describe the motor vehicle sold to the
buyer
authorized
purchaser and give the following information:
(a) The amount paid down by the
buyer
authorized
purchaser ;
(b) The amount
credited to the buyer
authorized purchaser for any trade-in and a
description thereof;
(c) The amount
of any other charge and a specification of its purpose;
(d) The net balance due from the
buyer
authorized
purchaser ;
(e) The terms of
the payment of the net balance.
(D) Records must be maintained for a period
of three years by those holding a license granted under Chapter 4738. of the
Revised Code.
(E) Notwithstanding
paragraph (A)(5) of this rule, all persons licensed under Chapter 4738. of the
Revised Code, shall retain on their premises, the title to all vehicles offered
for sale in the conduct of their business.
(F)
All salvage motor
vehicle auctions and salvage motor vehicle pools licensed under Chapter 4738.
of the Revised Code, shall also comply with the provisions as set forth in
section 4738.021 of the Revised
Code.
Notes
Promulgated Under: 119.03
Statutory Authority: 4738.15
Rule Amplifies: 4738.15
Prior Effective Dates: 12/1/80, 12/19/10
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