CHAPTER 240
H.P. 907 - L.D. 1233
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 10 MRSA §1475, sub-§3, as amended by PL 1999, c. 617, §1, is further amended to read:
3. Written statement. A dealer shall obtain from the seller of a used motor vehicle a written statement containing the following information:
A. The make, model, model year and any identification or serial numbers of the motor vehicle;
B. The name and address of the seller, the principal use to which the motor vehicle was put by the seller, such as personal transportation, police car, daily rental car, taxi or other descriptive term;
C. A statement identifying any and all mechanical defects known to the seller at the time of sale; and
D. A statement identifying the type of damage, if any, that the vehicle has sustained, such as fire, water or substantial collision damage, if such information is known to the seller.
Any dealer who offers for sale to consumers a repossessed vehicle that has been obtained by the dealer through any transaction other than a retail sale is not subject to the provisions of this subsection.
A dealer is not subject to the provisions of this subsection if that dealer offers for sale to consumers a used motor vehicle that has been obtained by the dealer through an auction located outside the State at which buyers are limited to licensed dealers and the seller of the used motor vehicle is neither a resident of this State nor a dealer licensed in this State, if the dealer clearly discloses on the written disclosure statement required by subsections 1 and 2-A that the vehicle was acquired at an out-of-state auction and that historical information regarding mechanical defects and substantial damage is not available.
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.
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, exceed $2,000.
Sec. 2. 29-A MRSA §705, sub-§1, as amended by PL 1997, c. 776, §27, is further amended to read:
1. Release on satisfaction. Upon satisfaction of the security interest of the lienholder, the lienholder shall, within 14 days after demand of receipt of funds intended to satisfy the security interest of the lienholder, execute a release of the security interest in the space provided on the certificate. The lienholder shall:
A. Release the certificate of title, certificate of salvage or certificate of lien to the subordinate lienholder if one is named;
B. If the lien was satisfied in conjunction with the sale of the vehicle and there is no subordinate lienholder, release and deliver the certificate of title, certificate of salvage or certificate of lien to the owner or to a person who delivers to the lienholder an authorization from the owner to receive the certificate; or
C. Deliver the certificate to the owner and notify the Secretary of State that the lien has been satisfied.
Sec. 3. 29-A MRSA §705, sub-§4, as enacted by PL 2001, c. 671, §16, is amended to read:
4. Remedies. The remedies set forth in this section are in addition to those set forth in section 668.
A. The owner and subordinate lienholder, if any, may recover $500 $1,000 in each case from a lienholder who fails to release the security interest and deliver the certificate of title, certificate of lien or certificate of salvage within 14 days after demand of receipt of funds intended to satisfy the security interest of the lienholder under this section, unless, within the 14-day time period, the lienholder notifies the owner that satisfaction of the security interest is in dispute.
B. If a lienholder fails to release the security interest and deliver the certificate of title, certificate of lien or certificate of salvage within 14 days after demand under this section and has not notified the owner that satisfaction of the security interest is in dispute, the Secretary of State may revoke the certificate of title, certificate of lien or certificate of salvage and issue a replacement certificate omitting the security interest upon receipt of a statement by the owner that 14 days have elapsed since demand for release of the security interest was made and the owner has not been notified by the lienholder that satisfaction of the security interest is in dispute. Submission of a false statement to the Secretary of State under this subsection is a Class E crime.
Sec. 4. 29-A MRSA §706, as enacted by PL 1993, c. 683, Pt. A, §2 and affected by Pt. B, §5, is amended to read:
§706. Lienholder to furnish information
Upon request of the owner, another lienholder named on the certificate of title or certificate of salvage or a dealer to which the vehicle has been transferred, a lienholder shall disclose pertinent information as to the security agreement, the indebtedness secured by that agreement, the existence and identity of subordinate lienholders on the certificate of title or certificate of salvage or other written docu-mentation held by the lienholder and the certificate of title or certificate of salvage numbers.
Effective September 13, 2003, unless otherwise indicated.
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