326.12 - VEHICLES DELETED -- REGISTRATION TRANSFERRED.

        326.12  VEHICLES DELETED -- REGISTRATION      TRANSFERRED.         Fleet owners who delete commercial vehicles displaying Iowa base      plates from the fleet after the commencement of the registration year      shall be allowed to transfer registration credit to a replacement      vehicle in accordance with this section.  Iowa shall allow credit for      non-Iowa based deleted vehicles only if the state designated by the      fleet owner as the base state of the deleted vehicle permits transfer      of registration credit to the replacement vehicle.  Allowance of      credit for deleted vehicles shall be subject to the following      conditions:         1.  The fee for reissuance or registration credentials or for      transfer of credentials shall be seven dollars.         2.  No deletion shall be made nor credit allowed toward      registration of a replacement vehicle unless the vehicle to be      removed from service has been sold, junked, repossessed, foreclosed      by mechanic's lien, title transferred by operation of law, or      cancellation or expiration of a lease arrangement.  The deleted      vehicle shall have been disposed of on or before the date the      replacement vehicle was acquired or in the possession of the      applicant.         3.  If a leased vehicle is to be deleted from the fleet and      unexpired registration fees applied to the replacement vehicle, the      lessee shall refund any unexpired registration fees paid by the      lessor to the lessee on the transferred vehicle.         4.  Credit shall be given for unexpired months.         5.  The registration of the vehicle being added to the fleet is      not delinquent under chapter 321.  
         Section History: Early Form
         [C71, 73, 75, 77, 79, 81, § 326.12] 
         Section History: Recent Form
         2002 Acts, ch 1063, §42