Lawriter - OAC - 4501:1-3-04 Dealer required to maintain records.

4501:1-3-04 Dealer required to maintain records.

(A) A motor vehicle dealer, a motor vehicle auction owner and a motor vehicle distributor shall maintain the following records, electronically or by paper, all the motor vehicles purchased, leased and sold:

(1) Name and address of the previous owner;

(2) Serial number (vehicle identification number);

(3) Title number, county and state;

(4) Year and make of said vehicle;

(5) A purchase agreement for each vehicle sold, which shall include a description of the vehicle, the name and address of the purchaser, the sales price, the odometer reading and may include the dealer's permit number;

(6) Lease contracts and security agreements;

(7) Odometer disclosure statement for each vehicle;

(8) A record of temporary tags sold on each vehicle.

(B) Records must be held for a period of three years unless otherwise mandated by a federal regulation.

(C) Records must be maintained and easily accessible by those holding a license granted under Chapter 4517. of the Revised Code and by any person who held a license and has since gone out of business.

(D) The business records shall be available for reasonable inspection by the registrar or his authorized agent within ten business days of the request.

Effective: 1/27/2018
Five Year Review (FYR) Dates: 11/6/2017 and 11/01/2022
Promulgated Under: 119.03
Statutory Authority: 4501.02, 4517.32
Rule Amplifies: 4517.04, 4517.05, 4517.06, 4517.12, 4517.08
Prior Effective Dates: 08/03/1978, 12/08/1986, 04/20/1996, 05/09/1998, 07/01/2009, 07/01/2010