Page:United States Statutes at Large Volume 100 Part 4.djvu/574

 100 STAT. 3310

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Regulations.

Records.

15 USC 2021. 15 USC 1381 note.

15 USC 1988 note.

PUBLIC LAW 99-579—OCT. 28, 1986

vehicle, the lessor may, in making the disclosure required by subsection (a), indicate on the title the mileage disclosed by the lessee under paragraph (1) unless the lessor has reason to believe that such disclosure by the lessee does not reflect the actual mileage of the vehicle. "(f)(1) The requirements of subsections (d) and (e)(1) respecting the disclosure of motor vehicle mileage when motor vehicles are transferred or leased shall apply in a State unless the State has in effect alternate motor vehicle mileage disclosure requirements approved by the Secretary. The Secretary may promulgate regulations establishing procedures for the consideration and approval of such alternate requirements. "(2) The Secretary shall approve alternate motor vehicle mileage disclosure requirements submitted by a State unless the Secretary determines that such requirements are not consistent with the purpose of the disclosure required by subsection (d) or (e), as the case may be. "(g) If any motor vehicle is sold at an auction, the auction company which conducts such auction shall establish and maintain for a period of at least 4 years following the date of such sale the following records: "(1) The name of the most recent owner of the motor vehicle (other than the auction company) and the name of the buyer of .;.t the motor vehicle. "(2) The vehicle identification number of the motor vehicle required under title VI of this Act or the National Traffic and Motor Vehicle Safety Act of 1966. "(3) The odometer reading on the date of which the auction company took possession of the motor vehicle.". (b) DEFINITIONS.—Section 402 of the Motor Vehicle Information and Cost Savings Act (15 U.S.C. 1982) is amended by adding at the end the following: "(6) The term 'title' means the certificate of title or other document issued by the State indicating ownership. "(7) The term 'leased motor vehicle' means any motor vehicle which is leased to a person for a term of at least 4 months by a lessor who has leased 5 or more vehicles in the past 12 months. b»ij "(8) The term 'auction company' means any person who takes ,9,11 possession (whether through consignment or bailment or through any other arrangement) of a motor vehicle owned by another person for purposes of selling such motor vehicle at an auction.'. (c) EFFECTIVE DATES.—

(1) IN GENERAL.—Except as provided in paragraph (2), subsec,Bi tions (d), (e), (f), and (g) of section 408 of the Motor Vehicle Information and Cost Savings Act (15 U.S.C. 1988), as added by subsection (a) of this section, shall apply with respect to motor vehicles which are transferred after the date 30 months after the date of the enactment of this Act. (2) REVISION OF STATE LAWS TO CONFORM TO AMENDMENTS.— (A) TECHNICAL ASSISTANCE.—The Secretary of Transpor-

Ante, p. 3309. Federal Register,

q: tation shall, upon application, assist a State in revising its -f c ». laws to comply with the requirements of section 408(d)(1) and (2) of the Motor Vehicle Information and Cost Savings Act. (B) EXTENSION OF TIME.—If any State requires time, in addition to the period prescribed by paragraph (1) of this

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