This bill amends various sections of Iowa's motor vehicle laws to clarify the rights of motor vehicle dealers regarding vehicle titles, record storage, and remote sales. It establishes that a licensed motor vehicle dealer is considered to have acquired rights to a vehicle if the title is issued or assigned to an entity with direct ownership or control over the dealer. Additionally, the bill mandates that dealers store all records at their business location or at a related entity's location within the U.S., and they must provide electronic records to the Department of Transportation (DOT) within 24 hours of a request.

Furthermore, the bill modifies the requirements for remote sales of vehicles, allowing entities with direct ownership or control over a dealer to possess the title at the time of sale. It removes the previous restriction that prevented dealers from signing a purchase agreement until receiving an executed agreement from the buyer. Dealers are now required to disclose specific information about the vehicle's location, title status, and estimated delivery date to potential buyers. The bill also stipulates that electronic signatures on digital images of physical titles are acceptable for odometer disclosures, provided they comply with federal regulations. Lastly, it clarifies that remote sales are not classified as door-to-door sales and are not subject to the regulations governing such sales.

Statutes affected:
Introduced: 321.45, 321.63, 322.3