12 CSR 10-26.080 - Procedural Requirements For Public Motor Vehicle Auctions
PUBLISHER'S NOTE: The secretary of state has determined that publication of the entire text of the material that is incorporated by reference as a portion of this rule would be unduly cumbersome or expensive. This material as incorporated by reference in this rule shall be maintained by the agency at its headquarters and shall be made available to the public for inspection and copying at no more than the actual cost of reproduction. This note applies only to the reference material. The entire text of the rule is printed here.
(1) For purposes of this rule, the term
"auction" shall mean "public motor vehicle auction" unless specified
otherwise.
(2) Auctions shall
maintain the following information for five (5) years from the date of sale of
any motor vehicle or trailer:
(A) The year,
make, model, and vehicle identification number of the motor vehicle;
(B) The name and address of the
seller;
(C) The name and address of
the buyer;
(D) The date of sale and
the purchase price;
(E) The
odometer reading of the motor vehicle at the time of sale and an odometer
disclosure statement that complies with the state and federal laws;
(F) A photocopy of both the front and back of
the certificate of title; and
(G)
Copies of any supporting rider, statement, affidavit, inspection, or other
document that accompanied the transaction.
(3) The motor vehicle auction must be
scheduled and publicized at least one (1) week prior to the sale
date.
(4) Any individual conducting
a public motor vehicle auction must be licensed pursuant to all applicable laws
and make available for inspection all applicable licenses to law officers or
Department of Revenue employees. An auction shall maintain a record of each
individual performing auctioneering services and the inclusive dates of such
services.
(5) Prior to selling any
motor vehicle at auction, an auction shall review all applicable vehicle
documentation, including but not limited to the following: certificate of title
and odometer disclosure statement, if applicable.
(A) Prior to selling a vehicle at auction,
the auctioneer must announce any brands printed on the title, the condition of
the vehicle, any known damage to the vehicle, the odometer reading of the
vehicle, and any other information on the odometer disclosure
statement.
(6)
Auctioneers shall announce at the beginning of each public auction that the
vehicles offered for sale may not have been safety inspected.
(7) Both licensed dealers and the public may
attend and buy or sell at a public motor vehicle auction.
(8) Motor vehicle auctions shall not accept
for sale from a dealer any vehicle without a Federal Buyer's Guide affixed to
the vehicle or which does not comply with other applicable state or federal
disclosure requirements.
(9) An
auction must verify that each dealer who sells at the auction is currently
licensed as a motor vehicle dealer in the state of Missouri or another
jurisdiction.
(10) A certificate of
number (license) issued to an auction by the director must be prominently
displayed at the auction's bona fide established place of business. A separate
license must be obtained by each public motor vehicle auction.
(11) An auction may only conduct business at
its licensed location. Off-site sales are prohibited.
(12) An auction must issue to the buyer and
seller of each vehicle a document that contains-
(A) The year, make, model, and vehicle
identification number of the motor vehicle;
(B) The name and address of the
seller;
(C) The name and address of
the buyer;
(D) The date of sale and
the purchase price; and
(E) The
odometer reading of the motor vehicle at the time of sale.
(13) Federal Buyer's Guide, revised November
2016, is incorporated by reference, as published by the Federal Trade
Commission, and can be obtained from the Federal Trade Commission at
www.ftc.gov/business-guidance/resources/buyers-guide
or the Harry S Truman State Office Building, 301 W. High Street, Jefferson
City, MO 65109. These forms do not include any amendments or additions since
the revision date noted.
Notes
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