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186A.230 Assignment titles used by motor vehicle dealers.

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186A.230 Assignment titles used by motor vehicle dealers. (1) Nothing in this chapter shall be construed as requiring that a trade-in vehicle received by a motor vehicle dealer licensed in this state must be titled by assignment <br>in the dealer's name substantially, simultaneously with the registration or titling of <br>the vehicle toward which the trade-in vehicle was received. (2) Licensed motor vehicle dealers shall be allowed to title by assignment a trade-in vehicle into their name if they possess an original or a copy of a title for the trade-in <br>or in lieu thereof an affidavit. The affidavit shall contain the existing owner's name, <br>address, make, year, model, vehicle identification number, license plate number, <br>decal number, title number, if available, and the dealer's name, address and <br>telephone number and any additional information required by the Transportation <br>Cabinet. Effective: July 15, 1982 <br>History: Created 1982 Ky. Acts ch. 164, sec. 43, effective July 15, 1982.