OAR 735-150-0037: Records; Satisfying Prior Interest; Providing Clear Title

This rule establishes the records vehicle dealers must maintain to comply with ORS 822.045(1) and OAR 735-150-0035. (1) “Other primary ownership document” as used in ORS 822.045(1)(j), as amended by Chapter 21, Oregon Laws 2014, and this rule has the same meaning as set forth in OAR 735-020-0010. (2) Vehicle dealers must satisfy the interest in a vehicle they purchase within 15 days of transfer or receipt of clear title pursuant to ORS 822.045(1)(j) and OAR 735-150-0035. To verify that they have complied with this requirement, dealers must maintain records that show: (a) The date a vehicle consumer transferred any interest in a vehicle or camper to a dealer. (b) The date a purchasing dealer receives clear title from another dealer on a vehicle or camper. This date is either the date: (A) The purchasing dealer took physical possession of the certificate of title or other primary ownership document, including who it was received from; or (B) Written notice was mailed by certified or registered mail, return receipt requested, to the purchasing dealer that the certificate of title was available for pickup at a time and place prearranged by the purchasing dealer and the dealer. (c) The date the purchasing dealer satisfied: (A) The interest of any person from whom the dealer purchased or obtained the vehicle or camper; (B) The interest of any person from whom a vehicle consumer leased the vehicle or camper; and (C) Except as provided by 822.045(2), all security interests in the vehicle or camper entered into before the date of transfer. (D) The interest of the dealer from which the purchasing dealer received the certificate of title or other primary ownership document.