This bill amends the Michigan Vehicle Code to introduce new definitions and requirements for vehicle dealers and wholesalers, including the definition of a "courtesy transportation vehicle," which becomes classified as a used vehicle after exceeding 5,000 miles. It revises the definition of "established place of business" for dealers, mandating specific conditions such as having a permanently enclosed building and secure record maintenance. The bill also updates wholesaler requirements, including the need for heated and electrified office spaces by January 1, 2024, and modifies the definition of a "police book" to encompass electronic records. Additionally, it clarifies the registration process for vehicles, including the necessity of a surety bond for certain high-value vehicles, aiming to enhance regulatory compliance within the vehicle sales industry.

Furthermore, the bill addresses the title and registration processes, imposing late transfer fees for applications not submitted within 21 days of delivery and requiring the purchaser or lessee to sign necessary documents. It introduces provisions for dealers handling off-lease or buyback vehicles, allowing a 30-day title application window, and establishes a temporary registration process for vehicles delivered with valid Michigan plates but lacking title applications. The bill also outlines the responsibilities of insurance companies regarding salvage and scrap titles, including the process for acquiring titles after total loss claims. Overall, the amendments aim to streamline vehicle registration and title processes while enhancing transparency and accountability in the vehicle sales industry.

Statutes affected:
House Introduced Bill: 257.14