Ohio Admin. Code 4501:1-4-22

Current through all regulations passed and filed through October 28, 2024

Section 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 authorized purchaser.

(2) The dealer shall, upon execution of the agreement or contract and before the delivery of the motor vehicle, deliver to the authorized purchaser a copy of the agreement or contract that shall clearly describe the motor vehicle sold to the authorized purchaser and give the following information:

(a) The amount paid down by the authorized purchaser;

(b) The amount credited to the 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 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.

Ohio Admin. Code 4501:1-4-22

Effective: 12/20/2015
Five Year Review (FYR) Dates: 10/05/2015 and 10/05/2020
Promulgated Under: 119.03
Statutory Authority: 4738.15
Rule Amplifies: 4738.15
Prior Effective Dates: 12/1/80, 12/19/10