Tennessee § 55-31-306 Demolishers - Surrender of certificate of title or auction sales receipt for cancelation - Records and recordation

Tennessee Statutes

§ 55-31-306 — Demolishers - Surrender of certificate of title or auction sales receipt for cancelation - Records and recordation

(a)A demolisher who purchases or otherwise acquires a motor vehicle for purposes of wrecking, dismantling, or demolition is not required to obtain a certificate of title for the motor vehicle in the demolisher's name. After the motor vehicle has been demolished, processed, or changed so that it physically is no longer a motor vehicle, the demolisher shall surrender for cancelation the certificate of title or auction sales receipt. The taxpayer and vehicle services division shall issue forms and rules governing the surrender of auction sales receipts and certificates of title as are appropriate.

(b)A demolisher shall keep an accurate and complete record of all motor vehicles purchased or received in the course of the demolisher's business. Such records must contain the name and address of

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(a) A demolisher who purchases or otherwise acquires a motor vehicle for purposes of wrecking, dismantling, or demolition is not required to obtain a certificate of title for the motor vehicle in the demolisher's name. After the motor vehicle has been demolished, processed, or changed so that it physically is no longer a motor vehicle, the demolisher shall surrender for cancelation the certificate of title or auction sales receipt. The taxpayer and vehicle services division shall issue forms and rules governing the surrender of auction sales receipts and certificates of title as are appropriate. (b) A demolisher shall keep an accurate and complete record of all motor vehicles purchased or received in the course of the demolisher's business. Such records must contain the name and address of the person from whom each motor vehicle was purchased or received and the date when the purchase or receipt occurred. The demolisher shall make the records open for inspection by any police department at any time during normal business hours. A record required by this section must be kept by the demolisher for at least one (1) year after the date of the transaction to which it applies.

Tennessee § 55-31-306 (Demolishers - Surrender of certificate of title or auction sales receipt for cancelation - Records and recordation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.