Section 138.05. Auction dealers.

  Motor vehicle wholesale auction dealers shall:

(1)  For each vehicle offered for sale, either require the consigning dealer deposit clear title or furnish title insurance at time of sale.

(2)  Prominently display the selling dealer's name and address, and state in which the vehicle is titled, on each vehicle offered for sale, prior to each vehicle entering the auction sale building. Recommended methods are either affixing the information on the side window by grease pencil, or entering the information on a card plainly visible through either the windshield or side window.

(3)  Maintain a copy of the signed title for each vehicle sold.

(4)  For each motor vehicle sold at an auction sale, establish and maintain for 5 years those records as required under s. Trans 154.12 (3) as authorized under s. 342.157 , Stats.

(5)  Rescind the vehicle sale transaction if unable to furnish clear title to the purchasing dealer within 14 days following date of sale, if so requested by the purchasing dealer.

(6)  Required records shall be kept in the place of business during business hours and shall be open to inspection and copying by a representative of the department during reasonable business hours.

History: Cr. Register, April, 1977, No. 256 , eff. 5-1-77; renum. from MVD 13.03 and am. Register, July, 1981, No. 307 , eff. 8-1-81; am. (5), Register, June, 1991, No. 426 , eff. 7-1-91; am. (3), r. and recr. (4), cr. (6), Register, January, 1996, No. 481 , eff. 2-1-96; CR 99-135 : am. (5) Register February 2004 No. 578 , eff. 3-1-04; 2013 Wis. Act 363 : am. (3) Register May 2014 No. 701 , eff. 6-1-14.