House File 2485 amends various sections of Iowa's motor vehicle dealer laws to clarify the rights and responsibilities of dealers, particularly regarding vehicle titles and record-keeping. A new provision establishes that a licensed motor vehicle dealer is considered to have acquired rights to a vehicle if its title is issued or assigned to an entity with direct ownership or control over the dealer. Additionally, dealers are required to store records at their business location or that of a controlling entity, provide electronic records to the department within 24 hours of a request, and ensure physical records are delivered in a reasonable timeframe.

The bill also introduces specific requirements for remote sales of motor vehicles, including the necessity for dealers to possess the vehicle's title at the time of sale, which can be in an approved electronic format. Dealers must disclose to buyers whether the vehicle is located out of state and provide an estimated delivery date. Furthermore, the bill clarifies that remote sales are not classified as door-to-door sales, thus exempting them from certain regulations. Overall, the legislation aims to modernize the process of vehicle sales and enhance transparency in transactions.

Statutes affected:
Introduced: 321.45, 322.3, 321.23
Reprinted: 321.45, 321.63, 322.3
Enrolled: 321.45, 321.63, 322.3