37-1281. Motorboat sale; sale instrument; contents.

Every motorboat sale between a manufacturer or distributor shall be evidenced by an instrument in writing upon a form that may be promulgated by the Department of Motor Vehicles and approved by the Attorney General which shall contain all the agreements of the parties and shall be signed by the buyer and seller or a duly acknowledged agent of the seller. Prior to or concurrent with any such motorboat sale, the seller shall deliver to the buyer one instrument which shall contain the following information: (1) Name of seller; (2) name of buyer; (3) year of model, manufacturer's name, hull identification number, and hull length; (4) cash sale price; (5) the amount of buyer's downpayment and whether made in money or goods or partly in money and partly in goods, including a brief description of any goods traded in; (6) the difference between subdivisions (4) and (5) of this section; (7) the amount included for insurance if a separate charge is made therefor, specifying the types of coverages; (8) the basic time-price, which is the sum of subdivisions (6) and (7) of this section; (9) the time-price differential; (10) the amount of the time-price balance, which is the sum of subdivisions (8) and (9) of this section payable in installments by the buyer to the seller; (11) the number, amount, and due date or period of each installment payment; (12) the time-sale price; (13) whether the sale is as is or subject to warranty and, if subject to warranty, specifying the warranty; and (14) if repairs or inspections arising out of the conduct of a dealer's business cannot be provided by the dealer in any representations or warranties that may arise, the instrument shall so state that fact and shall provide the purchaser with the location of a facility where such repairs or inspections can be accomplished as provided for in the service contract. A copy of all such instruments shall be retained in the file of the dealer for five years from the date of sale.

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