§ 31-23.2-8 - Cause of action – Statute of limitations – Damages.
SECTION 31-23.2-8
§ 31-23.2-8 Cause of action – Statuteof limitations – Damages. – (a) Notwithstanding the provisions of any general or public law to thecontrary, any person who suffers a loss as a result of a violation of anyprovision of this chapter, may commence an action in either the superior ordistrict court within three (3) years from the date of discovery of the loss,or within one year from the date when through the exercise of reasonablediligence, the cause of the loss should have been discovered, whichever islater. If the seller of any motor vehicle or any previous owner shall haveknowingly violated any of the provisions of this chapter, he or she shall beliable to any subsequent good faith purchaser in an amount equal to three (3)times the amount of actual damages and shall also be liable for punitivedamages, costs, and reasonable attorney's fees as determined by the court.
(b) Prior to initiating any legal action as set forth insubsection (a) of this section, a person shall serve a written demand upon theseller or any previous owner by registered mail, return receipt requested,containing the following information:
(1) That the buyer believes the odometer has been tamperedwith;
(2) Date of purchase;
(3) Name of buyer and seller;
(4) Make, model, year, and VIN of motor vehicle;
(5) Sales price;
(6) Present mileage;
(7) Any repairs done on the motor vehicle since its purchase;and
(8) A demand for a refund or a replacement motor vehicle ofcomparable value within thirty (30) days of the notification of the seller orprevious owner. Should the seller or previous owner comply with the demandwithin thirty (30) days, the buyer shall forfeit any right to proceed inaccordance with subsection (a) of this section. Additionally, a replacementmotor vehicle shall be accepted by any financial institution financing themotor vehicle replaced as substitute collateral on any notes made to financethe replaced motor vehicle, and the owner/borrower and/or guarantors on thenotes shall not have to pay any penalties or refinance charges.
(c) Any person who knowingly violates any of the provisionsof this chapter, shall be absolutely liable to any person suffering a loss, andit shall not be a defense that any plaintiff contributed to his or her own loss.