Iowa HF2485 updates motor vehicle dealer regulations for remote sales, including title possession, record storage, and disclosure requirements.

Iowa HF2485 modifies the rules for motor vehicle dealers engaging in remote sales. It allows a dealer to possess the certificate of title in electronic format if the title is issued or assigned to an entity with direct ownership or control over the dealer. The bill mandates that dealers store records at their business location or at a U.S.-based entity with direct ownership or control over the dealer. Dealers must provide electronic records to the Department of Transportation within 24 hours of a request and physical records within a reasonable time considering postal delivery.

Iowa HF2485 updates motor vehicle dealer regulations for remote sales, including title possession, record storage, and disclosure requirements.

Iowa HF2485 modifies the rules for motor vehicle dealers engaging in remote sales. It allows a dealer to possess the certificate of title in electronic format if the title is issued or assigned to an entity with direct ownership or control over the dealer. The bill mandates that dealers store records at their business location or at a U.S.-based entity with direct ownership or control over the dealer. Dealers must provide electronic records to the Department of Transportation within 24 hours of a request and physical records within a reasonable time considering postal delivery.