49-1636. CONSIGNMENT SALES. (1) An owner who consigns a vehicle to a vehicle dealer to be offered for sale or exchange on behalf of the owner to a third party purchaser, shall provide the dealer with either the certificate of title to the vehicle along with a power of attorney designating the dealer as an agent of the owner, or a duly executed consignment agreement between the dealer and the owner, along with a copy of the certificate of title of the vehicle being consigned.
(2) A consignment agreement shall contain at the least, the following:
(a) The name and current address of the owner of the vehicle as shown on the certificate of title;
(b) The name and current address of any person holding a lien on the vehicle;
(c) The name of the consignee;
(d) A description of the vehicle including the vehicle’s make, model, vehicle identification number and odometer reading; and
(e) A statement that the owner has appointed the vehicle dealer as his agent for the purpose of offering the vehicle for sale.
History:
[49-1636, added 1991, ch. 272, sec. 19, p. 709.]
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