§ 46.2-1531. Consignment vehicles; contract
Any motor vehicle dealer offering a vehicle for sale on consignment shall have in his possession a consignment contract for the vehicle, executed and signed by the dealer and the consignor. The consignment contract shall include:
1. The complete name, address, and the telephone number of the owners.
2. The name, address, and dealer certificate number of the selling dealer.
3. A complete description of the vehicle on consignment, including the make, model year, vehicle identification number, and body style.
4. The beginning and termination dates of the contract.
5. The percentage of commission, the amount of the commission, or the net amount the owner is to receive, if the vehicle is sold.
6. Any fees for which the owner is responsible.
7. A disclosure of all unsatisfied liens on the vehicle and the location of the certificate of title to the vehicle.
8. A requirement that the motor vehicle pass a safety inspection prior to sale.
If any motor vehicle on consignment from a certified nonprofit organization is found not to be in compliance with any safety inspection requirement, the dealer shall furnish any buyer intending to use that vehicle on the public highways a written disclosure, prior to sale, that the vehicle did not pass a safety inspection.
Any dealer offering a vehicle for sale on consignment shall inform any prospective customer that the vehicle is on consignment.
Dealer license plates shall not be used to demonstrate a vehicle on consignment except on (i) motor vehicles with gross vehicle weight of 15,000 pounds or more, (ii) vehicles on consignment from another licensed motor vehicle dealer, and (iii) vehicles on consignment from a nonprofit organization certified pursuant to subsection B of § 46.2-1508.1. The owner's license plates may be used if liability insurance coverage is in effect in the amounts prescribed by § 46.2-472.
(1988, c. 865, § 46.1-547.6; 1989, cc. 187, 727; 1993, c. 289; 2000, c. 180.)
Sections: Previous 46.2-1527.11 46.2-1528 46.2-1529 46.2-1529.1 46.2-1530 46.2-1530.1 46.2-1530.2 46.2-1531 46.2-1532 46.2-1532.1 46.2-1532.2 46.2-1533 46.2-1534 46.2-1535 46.2-1536 NextLast modified: April 16, 2009