Section 466 - [Effective 7/1/2025] Records; disclosures; custodian(a) On a form prescribed or approved by the Commissioner, every licensed dealer shall maintain and retain for six years a record containing the following information, which shall be open to inspection by any law enforcement officer or motor vehicle inspector or other agent of the Commissioner during reasonable business hours:(1) Every vehicle or motorboat that is bought, sold, or exchanged by the licensee or received or accepted by the licensee for sale or exchange.(2) Every vehicle or motorboat that is bought or otherwise acquired and dismantled by the licensee.(3) The name and address of the person from whom such vehicle or motorboat was purchased or acquired, the date thereof, the name and address of the person to whom any such vehicle or motorboat was sold or otherwise disposed of and the date thereof, and a sufficient description of every such vehicle or motorboat by name and identifying numbers thereon to identify the same.(b)(1) On a form prescribed or approved by the Commissioner, a licensed dealer shall provide written disclosure to each buyer of a used motor vehicle regarding the following: (A) the month in which the vehicle was last inspected pursuant to section 1222 of this title;(B) the month in which the inspection shall expire;(C) whether the most recent inspection was by the dealer currently selling the motor vehicle;(D) a statement that the condition of the motor vehicle may be different than the condition at the last inspection, unless inspected by the dealer selling the vehicle for the current transaction;(E) a statement regarding the right of a potential buyer to have the vehicle inspected by an independent qualified mechanic of their choice and at their own expense; and(F) a clear and conspicuous statement, if applicable, that the vehicle is being transferred without an inspection sticker, with an expired inspection sticker, or with an inspection sticker from another state.(2) The licensed dealer shall maintain and retain record of the disclosure statement, signed by both the dealer and the buyer, for two years after transfer of ownership. The record shall be open to inspection by any law enforcement officer or motor vehicle inspector or other agent of the Commissioner during reasonable business hours.(c) Every licensed dealer shall designate a custodian of documents who shall have primary responsibility for administration of documents required to be maintained under this title. In the absence of the designated custodian, the dealer shall have an ongoing duty to make such records available for inspection by any law enforcement officer or motor vehicle inspector or other agent of the Commissioner during reasonable business hours. Amended by 2024, No. 165,§ 35, eff. 7/1/2025.Amended 1969, No. 259 (Adj. Sess.), § 10; 1999, No. 31 , § 8; 2005, No. 143 (Adj. Sess.) , § 3; 2011 , No. 46 , § 1; 2015 , No. 50 , § 2; 2017, No. 206 (Adj. Sess.), § 19, eff. 5/30/2018.This section is set out more than once due to postponed, multiple, or conflicting amendments.