Mo. Code Regs. tit. 12 § 10-26.080
Current through Register Vol. 49, No. 21, November 1, 2024.
Section 12 CSR 10-26.080 - Procedural Requirements For Public Motor Vehicle AuctionsPURPOSE: This amendment updates the authority information and incorporates by reference the Federal Buyer's Guide.
PUBLISHER'S NOTE: The secretary of state has determined that the publication of the entire text of the material which is incorporated by reference as a portion of this rule would be unduly cumbersome or expensive. This material as incorporated by reference in this rule shall be maintained by the agency at its headquarters and shall be made available to the public for inspection and copying at no more than the actual cost of reproduction. This note applies only to the reference material. The entire text of the rule is printed here.
(1) For purposes of this rule, the term "auction" shall mean "public motor vehicle auction" unless specified otherwise.(2) Auctions shall maintain the following information for five (5) years from the date of sale of any motor vehicle or trailer: (A) The year, make, model and vehicle identification number of the motor vehicle;(B) The name and address of the seller;(C) The name and address of the buyer;(D) The date of sale and the purchase price;(E) The odometer reading of the motor vehicle at the time of sale and an odometer disclosure statement that complies with the state and federal laws;(F) A photocopy of both the front and back of the certificate of title; and(G) Copies of any supporting rider, statement, affidavit, inspection or other document that accompanied the transaction.(3) The motor vehicle auction must be scheduled and publicized at least one (1) week prior to the sale date.(4) Any individual conducting a public motor vehicle auction must be licensed pursuant to all applicable laws and make available for inspection all applicable licenses to law officers or Department of Revenue employees. An auction shall maintain a record of each individual performing auctioneering services and the inclusive dates of such services.(5) Prior to selling any motor vehicle at auction, an auction shall review all applicable vehicle documentation, including but not limited to, the following: certificate of title and odometer disclosure statement, if applicable. (A) Prior to selling a vehicle at auction, the auctioneer must announce any brands printed on the title, the condition of the vehicle, any known damage to the vehicle, the odometer reading of the vehicle, and any other information on the odometer disclosure statement.(6) Auctioneers shall announce at the beginning of each public auction that the vehicles offered for sale may not have been safety inspected.(7) Both licensed dealers and the public may attend and buy or sell at a public motor vehicle auction.(8) Motor vehicle auctions shall not accept for sale from a dealer any vehicle without a Federal Buyer's Guide affixed to the vehicle or which does not comply with other applicable state or federal disclosure requirements.(9) An auction must verify that each dealer who sells at the auction is currently licensed as a motor vehicle dealer in the state of Missouri or another jurisdiction.(10) A certificate of number (license) issued to an auction by the director must be prominently displayed at the auction's bona fide established place of business. A separate license must be obtained by each public motor vehicle auction.(11) An auction may only conduct business at its licensed location. Off-site sales are prohibited.(12) An auction must issue to the buyer and seller of each vehicle a document that contains- (A) The year, make, model, and vehicle identification number of the motor vehicle;(B) The name and address of the seller;(C) The name and address of the buyer;(D) The date of sale and the purchase price; and(E) The odometer reading of the motor vehicle at the time of sale.(13) Federal Buyer's Guide, revised November 2016, is incorporated by reference, as published by the Federal Trade Commission, and can be obtained from the Federal Trade Commission at www.ftc.gov/business-guidance/resources/buyers-guide or the Harry S Truman State Office Building, 301 W. High Street, Jefferson City, MO 65109. These forms do not include any amendments or additions since the revision date noted. AUTHORITY: sections 301.550-301.573, RSMo 1994 and Supp. 1998.* Original rule filed Nov. 1, 1999, effective May 30, 2000. Amended by Missouri Register April 1, 2019/Volume 44, Number 7, effective 5/31/2019Amended by Missouri Register April 15, 2024/volume 49, Number 08, effective 5/31/2024.*Original authority: See Missouri Revised Statutes 1994 and Missouri Revised Statutes Cumulative Supplement 1999.