(a) Each title, at the time it is issued to the transferee, must contain:

1. (1) The mileage disclosed by the transferor when ownership of the vehicle was transferred; and
2. (2) A space for the information required to be disclosed under subsections (c), (d), (e), and (f) of this section at the time of future transfer.

(c)

1. (1) In connection with the transfer of ownership of a motor vehicle, each transferor shall disclose the mileage to the transferee in writing on the:

   1. (A) Title; or
   2. (B) Document being used to reassign the title.

2. (2)

   1. (A) This written disclosure must be signed by the transferor, including the printed name.
   2. (B) In connection with the transfer of ownership of a motor vehicle in which more than one (1) person is a transferor, only one (1) transferor need sign the written disclosure.

3. (3) In addition to the signature and printed name of the transferor, the written disclosure must contain the following information:

   1. (A) The odometer reading at the time of transfer (not to include tenths of miles);
   2. (B) The date of transfer;
   3. (C) The transferor’s:

(i) Name; and

1. (ii) Current address;

   1. (D) The transferee’s:

      1. (i) Name; and
      2. (ii) Current address; and

   2. (E) The identity of the vehicle, including its:

      1. (i) Make;
      2. (ii) Model;
      3. (iii) Year;
      4. (iv) Body type; and
      5. (v) Vehicle identification number.
      6. (d)

2. (1) In addition to the information provided under subsection (c) of this section, the statement shall:

   1. (A) Refer to the federal law; and

   2. (B) State that failure to complete or providing false information may result in:

      1. (i) Fines; and/or
      2. (ii) Imprisonment.
3. (2) Reference may also be made to applicable state law.

(e) In addition to the information provided under subsections (c) and (d) of this section:

1. (1) The transferor shall certify that to the best of his or her knowledge the odometer reading reflects the actual mileage;
2. (2) If the transferor knows that the odometer reading reflects the amount of mileage in excess of the designed mechanical odometer limit, he or she shall include a statement to that effect; or

3. (3)

   1. (A) If the transferor knows that the odometer reading differs from the mileage and that the difference is greater than that caused by odometer calibration error, he or she shall include a statement that the odometer reading:

      1. (i) Does not reflect the actual mileage; and
      2. (ii) Should not be relied upon.
   2. (B) This statement shall also include a warning notice to alert the transferee that discrepancy exists between the odometer reading and the actual mileage.

(f) The transferee shall:

1. (1) Sign the disclosure statement;
2. (2) Print his or her name; and
3. (3) Return a copy to his or her transferor.