49-529. MANDATORY REJECTION OR INVALIDATION OF TRANSITIONAL OWNERSHIP DOCUMENT BY DEPARTMENT. The transportation department shall reject, return or subsequently invalidate a transitional ownership document if:

(1) More than thirty (30) days have elapsed between the date of sale, or if no sale is involved, more than thirty (30) days have elapsed between the date the contract or security interest being perfected was signed and the date the transitional ownership document is received by the department;

(2) The transitional ownership document does not contain all of the information contained in section 49-121(7), Idaho Code;

(3) It is determined that persons named on the transitional ownership document as having a security interest did not have a security interest on the date the transitional ownership document was received;

(4) It is determined the person who submitted the transitional ownership document made false statements in completing the transitional ownership document;

(5) The department does not receive the primary ownership document from the date of sale within ninety (90) days of the date of sale or if no sale is involved, within ninety (90) days from the date the security agreement or contract was signed;

(6) The security interest holder or person submitting the transitional ownership document elects to retain, requests it be returned or requests that the transitional ownership document be withdrawn; or

(7) The information on or in the transitional ownership document has been changed or altered in a manner that is not acceptable to the department.

History:

[49-529, added 2000, ch. 320, sec. 1, p. 1079; am. 2007, ch. 66, sec. 5, p. 171.]