Page:United States Statutes at Large Volume 108 Part 2.djvu/335

 PUBLIC LAW 103-272—JULY 5, 1994 108 STAT. 1051 (B) Subparagraph (A) of this paragraph does not require a State to verify, or preclude a State from verifying, the mileage information contained in the title. (c) LEASED MOTOR VEHICLES.—(1) For a leased motor vehicle, the regulations prescribed under subsection (a) of this section shall require written disclosure about mileage to be made by the lessee to the lessor when the lessor transfers ownership of that vehicle. (2) Under those regulations, the lessor shall provide written notice to the lessee of— (A) the mileage disclosure requirements of subsection (a) of this section; and (B) the penalties for failure to comply with those requirements. (3) The lessor shall retain the disclosures made by a lessee under paragraph (1) of this subsection for at least 4 years following the date the lessor transfers the leased motor vehicle. (4) If the lessor transfers ownership of a leased motor vehicle without obtaining possession of the vehicle, the lessor, in making the disclosure required by subsection (a) of this section, may indicate on the title the mileage disclosed by the lessee under paragraph (1) of this subsection unless the lessor has reason to believe that the disclosure by the lessee does not reflect the actual mileage of the vehicle. (d) STATE ALTERNATE VEHICLE MILEAGE DISCLOSURE REQUIRE- MENTS. —The requirements of subsections (b) and (c)(1) of this section on the disclosure of motor vehicle mileage when mctor vehicles are transferred or leased apply in a State unless th3 State has in effect alternate motor vehicle mileage disclosure requirements approved by the Secretary. The Secretary shall approve alternate motor vehicle mileage disclosure requirements submitted by a State unless the Secretary decides that the requirements are not consistent with the purpose of the disclosure required by subsection (b) or (c), as the case may be. (e) AUCTION SALES.—I f a motor vehicle is sold at an auction, the auction company conducting the auction shall maintain the following records for at least 4 years after the date of the sale: (1) the name of the most recent owner of the motor vehicle (except the auction company) and the name of the buyer of the motor vehicle. (2) the vehicle identification number required under chapter 301 or 331 of this title. (3) the odometer reading on the date the auction company took possession of the motor vehicle. (f) APPLICATION AND REVISION OF STATE LAW. —(1) Except as provided in paragraph (2) of this subsection, subsections (b)-(e) of this section apply to the transfer of a motor vehicle after April 28, 1989. (2) If a State requests, the Secretary shall assist the State in revising its laws to comply with subsection (b) of this section. If a State requires time beyond April 28, 1989, to revise its laws to achieve compliance, the Secretary, on request of the State, may grant additional time that the Secretary considers reasonable by publishing a notice in the Federal Register. The notice shall include the reasons for granting the additional time. In granting additional time, the Secretary shall ensure that the State is making reasonable efforts to achieve compliance. Records. Federal Register, publication.

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