482.423 - Sale of new vehicle: Duties of seller; information concerning secured party or assignee; temporary placards; dealer to execute and furnish copy of dealer’s report of sale; applicability of s
482.423 Sale of new vehicle: Duties of seller; information concerning secured party or assignee; temporary placards; dealer to execute and furnish copy of dealer’s report of sale; applicability of section.
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 dealer who is licensed to sell the vehicle, 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.
2. 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 or her assignee must be entered on the dealer’s report of sale and on the manufacturer’s certificate or statement of origin.
3. Unless an extension of time is granted by the Department, the seller shall:
(a) Collect the fees set forth in NRS 482.429 for:
(1) A certificate of title for a vehicle registered in this State; and
(2) The processing of the dealer’s report of sale; and
(b) Within 20 days after the execution of the dealer’s report of sale:
(1) Submit to the Department the original of the dealer’s report of sale and the manufacturer’s certificate or statement of origin; and
(2) Remit to the Department the fees collected pursuant to paragraph (a).
4. Upon entering into a contract or other written agreement for the sale of a new vehicle, the seller shall affix a temporary placard to the rear of the vehicle. Only one temporary placard may be issued for the vehicle. The temporary placard must:
(a) Be in a form prescribed by the Department;
(b) Be made of a material appropriate for use on the exterior of a vehicle;
(c) Be free from foreign materials and clearly visible from the rear of the vehicle; and
(d) Include the date of its expiration.
5. Compliance with the requirements of subsection 4 permits the vehicle to be operated for a period not to exceed 30 days after the execution of a written agreement to purchase or the contract of sale, whichever occurs first. Upon the issuance of the certificate of registration and license plates for the vehicle or the expiration of the temporary placard, whichever occurs first, the buyer shall remove the temporary placard from the rear of the vehicle.
6. For the purposes of establishing compliance with the period required by paragraph (b) of subsection 3, 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.
7. Upon execution of all the documents necessary to complete the sale of a vehicle, including, without limitation, the financial documents, the dealer shall execute the dealer’s report of sale and furnish a copy of the report to the buyer not less than 10 days before the expiration of the temporary placard.
8. The provisions of this section do not apply to kit trailers.
(Added to NRS by 1967, 129; A 1973, 1163; 1975, 1073; 1977, 998; 1979, 1024, 1226; 1993, 1390; 1995, 777, 1865; 1997, 196; 1999, 255; 2001, 915; 2003, 2641; 2007, 3216)