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other than a retail sale is not subject to the provisions of this | subsection. |
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| The seller of the used motor vehicle shall sign and date this | written statement and the dealer who buys the vehicle shall | maintain a record of it for 2 years following the sale of the | motor vehicle. |
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| As used in subsection 2-A and this subsection, "substantial | collision damage" means any damage to a motor vehicle from a | collision when the costs of repair of that damage, at the time of | repair, including replacement of mechanical and body parts, | exceeded by 3 times the amount of damage that would at the time | of the collision have required a report of the collision to a law | enforcement agency under the provisions of Title 29-A, section | 2251 exceed $1,500. |
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| | Emergency clause. In view of the emergency cited in the preamble, | this Act takes effect when approved. |
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| | Public Law 1999, chapter 61, effective September 18, 1999, | increased the monetary amount of property damage for which a | motor vehicle accident must be reported from $500 to $1,000. By | doing so, this legislation also indirectly altered the definition | in the used car information laws of the phrase "substantial | collision damage." This definition states that substantial | collision damage need not be disclosed to consumers unless the | cost of repairing that damage exceeded by 3 times the amount of | property damage for which a motor vehicle accident must be | reported. Therefore, the passage of Public Law 1999, chapter 61 | means that car dealers now need not disclose substantial | collision damage unless the cost of repairing it exceeds $3,000. |
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| | This bill would maintain the past statutory requirement that | collision damage that costs more than $1,500 to repair must be | disclosed to consumers. |
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