43-47-12. Maintenance of records by licensees; possession of vehicle or parts as evidence of purchase for resale.

Every licensee shall maintain for three years a record of:#

1. (1)

   Every vehicle, vehicle body, chassis, or major component part of or for a vehicle received or acquired by him or her; its description and any identifying numbers; the date of its receipt or acquisition; and the full name, address, and driver’s license number or social security number of the person from whom received or acquired; provided, however, that, in the event such purchase or acquisition is from a used car dealer or from a used motor vehicle parts dealer, the name and address of the corporation or company shall be sufficient if the seller is registered under this chapter;#

2. (2)

   Every vehicle, vehicle body, chassis, or major component part disposed of by him or her; its description and any identifying numbers; the date of its receipt or acquisition; and the full name, address, and driver’s license number or social security number of the person to whom disposed; provided, however, that, in the event such disposal is to a used car dealer or to a used motor vehicle parts dealer, the name and address of the corporation or company shall be sufficient if the purchaser or acquirer is registered under this chapter;#

3. (3)

   Every vehicle wrecked, dismantled, or crushed by him or her and the date of its wrecking or dismantling; and#

4. (4)

   Any other records which the board may reasonably require to protect the public, as relating to the licensee’s method of operation and personnel employed.#

The possession of motor vehicles or parts covered by this chapter shall be prima-facie evidence that they were purchased for the purpose of resale.#