§ 31-3.1-13 - Transfer to or from dealer – Records.
SECTION 31-3.1-13
§ 31-3.1-13 Transfer to or from dealer– Records. – (a) If a dealer buys a vehicle and holds it for resale and procures thecertificate of title from the owner or the lienholder within ten (10) daysafter delivery to him of the vehicle, the dealer need not send the certificateto the division of motor vehicles. However, upon transferring the vehicle toanother person other than by the creation of a security interest, the dealershall promptly execute the assignment and warranty of title by a dealer,showing the names and addresses of the transferee and of any lienholder holdinga security interest created or reserved at the time of the resale and the dateof the security agreement, in the spaces provided for it on the certificate oras the division of motor vehicles prescribes, and mail or deliver thecertificate to the division of motor vehicles with the transferee's applicationfor a new certificate.
(b) Every dealer shall maintain for five (5) years a recordin the form the division of motor vehicles prescribes of every vehicle bought,sold, or exchanged by the dealer, or received by the dealer for sale orexchange, which shall be open to inspection by a representative of the divisionof motor vehicles or peace officer during reasonable business hours.