Assembly Bill No. 131

Assembly Bill No. 131-Committee on Transportation

CHAPTER

104

AN ACT relating to motor vehicles; requiring certain sellers to collect the fee for the issuance of a certificate of title under certain circumstances; reducing the period during which a dealer's report of sale for a new vehicle is valid for purposes of operating the vehicle before a certificate of registration is issued; extending the period during which a special permit issued by the department of motor vehicles and public safety for the operation of a vehicle is valid; limiting the period in which a certificate of ownership must be delivered after the terms of a contract or security agreement have been fully performed; clarifying that certain fees must be paid to the department before it issues a certificate of ownership; and providing other matters properly relating thereto.

[Approved June 1, 1997]

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

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Section 1. NRS 482.423 is hereby amended to read as follows:
482.423 1. When a new vehicle is sold in this state for the first time, the seller shall complete and execute a manufacturer's certificate of origin or a manufacturer's statement of origin and, unless the vehicle is sold to a licensed dealer, a dealer's report of sale. The dealer's report of sale must be in a form prescribed by the department and must include:
(a) A description of the vehicle;
(b) The name and address of the seller; and
(c) The name and address of the buyer.
If in connection with the sale a security interest is taken or retained by the seller to secure all or part of the purchase price, or a security interest is taken by a person who gives value to enable the buyer to acquire rights in the vehicle, the name and address of the secured party or his assignee must be entered on the dealer's report of sale and on the manufacturer's certificate or statement of origin.
2. Unless an extension of time is granted by the department, the seller shall:
(a) Collect the fee set forth in NRS 482.429 for a certificate of title for a vehicle registered in this state;
(b) Submit the original of the dealer's report of sale and the manufacturer's certificate or statement of origin and remit the fee collected pursuant to this subsection for the certificate of title to the department within 20 days after the execution of the dealer's report of sale; and
[(b)] (c) Furnish one copy of the report to the buyer.
One copy must be affixed to the right front windshield of the vehicle, which permits the vehicle to be operated for a period not to exceed [20] 10 days. Upon the issuance of the certificate of registration and license plates for the vehicle or the expiration of [20] 10 days after the sale, whichever occurs first, the buyer shall remove the copy from the windshield of the vehicle.
3. For the purposes of establishing compliance with the period required by paragraph [(a)] (b) of subsection 2, the department shall use the date imprinted or otherwise indicated on the dealer's report of sale as the beginning date of the 20-day period.
4. The department shall furnish a special permit for use when a contract of sale is entered to enable the buyer to operate the vehicle for a period not to exceed [10] 20 days. Upon execution of all required documents to complete the sale of a vehicle, the dealer shall remove this permit and execute a dealer's report of sale as required by this section.
Sec. 2. NRS 482.4235 is hereby amended to read as follows:
482.4235 1. If a new vehicle is leased in this state by a long-term lessor, the long-term lessor shall complete and execute a manufacturer's certificate of origin or a manufacturer's statement of origin, and a long-term lessor's report of lease. Such a report must be in a form prescribed by the department and must include:
(a) A description of the vehicle; and
(b) The names and addresses of the long-term lessor, long-term lessee and any person having a security interest in the vehicle.
2. Unless an extension of time is granted by the department, the long-term lessor shall:
(a) Submit the original of the long-term lessor's report of lease and the manufacturer's certificate of origin or manufacturer's statement of origin to the department within 20 days after the execution of the long-term lessor's report of lease; and
(b) Furnish one copy of the report to the long-term lessee.
The long-term lessor shall affix one copy of the report to the right front windshield of the vehicle, which permits the vehicle to be operated for a period not to exceed 10 days. Upon issuance of the certificate of registration for the vehicle or the expiration of 10 days after the lease, whichever occurs first, the long-term lessee shall remove the copy from the windshield of the vehicle.
3. For the purposes of establishing compliance with the period required by paragraph (a) of subsection 2, the department shall use the date imprinted or otherwise indicated on the long-term lessor's report of lease as the beginning date of the 20-day period.
4. When a contract to lease a new vehicle is entered into, the department shall furnish a special permit to the long-term lessor to enable the long-term lessee to operate the vehicle for not more than [10] 20 days. Upon executing all documents necessary to complete the lease of the vehicle, the long-term lessor shall remove the special permit and execute the long-term lessor's report of lease as required by this section.
Sec. 3. NRS 482.424 is hereby amended to read as follows:
482.424 1. When a used or rebuilt vehicle is sold in this state to any person, except a licensed dealer, by a dealer, rebuilder, long-term lessor or short-term lessor, the seller shall complete and execute a dealer's or rebuilder's report of sale. The dealer's or rebuilder's report of sale must be in a form prescribed by the department and must include:
(a) A description of the vehicle, including whether it is a rebuilt vehicle;
(b) The name and address of the seller; and
(c) The name and address of the buyer.
If a security interest exists at the time of the sale, or if in connection with the sale a security interest is taken or retained by the seller to secure all or part of the purchase price, or a security interest is taken by a person who gives value to enable the buyer to acquire rights in the vehicle, the name and address of the secured party must be entered on the dealer's or rebuilder's report of sale.
2. Unless an extension of time is granted by the department, the seller shall:
(a) Collect the fee set forth in NRS 482.429 for a certificate of title for a vehicle registered in this state;
(b) Submit the original of the dealer's or rebuilder's report of sale and remit the fee collected pursuant to this subsection for the certificate of title to the department within 30 days after the execution of the dealer's or rebuilder's report of sale, together with the properly endorsed certificate of title or certificate of ownership previously issued for the vehicle; and
[(b)] (c) Furnish one copy of the report to the buyer.
One copy must be affixed to the front right windshield of the vehicle, which permits the vehicle to be operated for not more than 10 days. Upon the issuance of the certificate of registration for the vehicle or the expiration of 10 days after the sale, whichever occurs first, the buyer shall remove the copy from the windshield of the vehicle.
3. For the purposes of establishing compliance with the period required by paragraph [(a)] (b) of subsection 2, the department shall use the date imprinted or otherwise indicated on the dealer's or rebuilder's report of sale as the beginning date of the 30-day period.
4. The department shall furnish a special permit which may be used when a contract of sale is made, to enable the buyer to operate the vehicle purchased by him for not more than [10] 20 days. Upon executing all documents necessary to complete the sale of the vehicle, the dealer shall remove the special permit and execute the dealer's report of sale, as required by this section.
Sec. 4. NRS 482.4245 is hereby amended to read as follows:
482.4245 1. If a used or rebuilt vehicle is leased in this state by a long-term lessor, the long-term lessor shall complete and execute a long-term lessor's report of lease. Such a report must be in a form prescribed by the department and must include:
(a) A description of the vehicle;
(b) An indication as to whether the vehicle is a rebuilt vehicle; and
(c) The names and addresses of the long-term lessor, long-term lessee and any person having a security interest in the vehicle.
2. Unless an extension of time is granted by the department, the long-term lessor shall:
(a) Submit the original of the long-term lessor's report of lease to the department within 30 days after the execution of the long-term lessor's report of lease, together with the properly endorsed certificate of title or certificate of ownership previously issued for the vehicle; and
(b) Furnish one copy of the report to the long-term lessee.
The long-term lessor shall affix one copy of the report to the right front windshield of the vehicle, which permits the vehicle to be operated for a period not to exceed 10 days. Upon issuance of the certificate of registration for the vehicle or the expiration of 10 days after the lease, whichever occurs first, the long-term lessee shall remove the copy from the windshield of the vehicle.
3. For the purposes of establishing compliance with the period required by paragraph (a) of subsection 2, the department shall use the date imprinted or otherwise indicated on the long-term lessor's report of lease as the beginning date of the 30-day period.
4. When a contract to lease a used or rebuilt vehicle is entered into, the department shall furnish a special permit to the long-term lessor to enable the long-term lessee to operate the vehicle for not more than [10] 20 days. Upon executing all documents necessary to complete the lease of the vehicle, the long-term lessor shall remove the special permit and execute the long-term lessor's report of lease as required by this section.
Sec. 5. NRS 482.427 is hereby amended to read as follows:
482.427 1. Upon receipt of the documents required respectively by NRS 482.423, 482.424 and 482.426 to be submitted to it, and the payment of all required fees, the department shall issue a certificate of ownership.
2. If no security interest is created or exists in connection with the sale, the certificate of ownership [shall] must be issued to the buyer.
3. If a security interest is created by the sale, the certificate of ownership [shall] must be issued to the secured party or to his assignee.
Sec. 6. NRS 482.431 is hereby amended to read as follows:
482.431 [When the contract or] Within 15 days after the terms of the contract or security agreement have been fully performed, the seller or other secured party who holds a certificate of ownership shall deliver the certificate of ownership to the person or persons legally entitled thereto, with proper evidence of the termination or release of the security interest.
Sec. 7. The amendatory provisions of this act apply only to sales and leases of new and used motor vehicles which occur on or after the effective date of this act.
Sec. 8. This act becomes effective on July 1, 1997.
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