Section 154.12. Odometer records and retention requirements for dealers, wholesalers, lessors, auctions, salvage pools and salvage dealers.

 

(1)   Requirements for dealers and wholesalers. Dealers and wholesalers who are required to execute an odometer disclosure statement upon transferring ownership of a motor vehicle shall retain for 5 years a photostat, carbon or other facsimile copy of each odometer disclosure statement which they issue and receive. They shall retain all odometer disclosure statements at their primary place of business in a manner that is appropriate to business requirements and that permits systematic and prompt retrieval, and the records shall be made available for inspection and copying by the department during reasonable business hours.

(2)   Requirements for lessors of motor vehicles. Lessors shall retain for 5 years following the day they transfer ownership of the leased motor vehicle each odometer disclosure statement which they receive from a lessee. They shall retain all odometer disclosure statements at their primary place of business in a manner that is appropriate to business requirements and that permits systematic and prompt retrieval and the records shall be made available for inspection and copying by the department during reasonable business hours.

(3)   Odometer record retention for auction companies and salvage pools. Each auction company or salvage pool shall, in an order and manner which is appropriate to business requirements and which permits systematic and prompt retrieval, establish and retain for 5 years following the date of sale of each motor vehicle all of the following records:

(a) The name and address of the most recent owner and of the dealer, wholesaler or insurance company who assigned or reassigned ownership at the auction or salvage pool.

(b) The name and address of the buyer or the name and address of the dealer, wholesaler or buyer identification card holder, or both, who purchased the motor vehicle through the auction or salvage pool sale.

(c) A description of the motor vehicle, including its make, year, model and vehicle identification number.

(d) The date on which the motor vehicle was sold through the auction or salvage pool.

(e) The odometer reading on the date the auction acquired the vehicle, including the qualifying notation which indicates whether the odometer reading reflects the actual mileage, or that the odometer reading does not reflect the actual mileage, or that the odometer reading reflects the amount of mileage in excess of the designed mechanical odometer limit.

(4)   Requirements for salvage dealers.

(a) The following information shall be kept on odometers and electronic odometer chips sold or exchanged:

1. Year, make and vehicle identification number of the vehicle from which the odometer or odometer chip was removed.

2. Date of sale or exchange of odometer or odometer chip.

3. Name and address of purchaser of the odometer or odometer chip.

(b) Salvage dealers who sell, exchange or provide used odometers and electronic odometer chips shall maintain the information required in sub. (4) (a) at their primary place of business in an order and manner that is appropriate to business requirements and that permits systematic and prompt retrieval. The records shall be made available for inspection and copying by the department during reasonable business hours.

(c) Required information on odometers and electronic odometer chips must be recorded at the time of sale or exchange and retained for 5 years following the date of sale or exchange. These records are required only when the part is removed from a vehicle less than 10 years old and sold or exchanged as a separate part.

History: Cr. Register, January, 1996, No. 481 , eff. 2-1-96.