A. When the owner of a registered or unregistered vehicle transfers or assigns the owner's title or interest to the vehicle:

1. 1. If the vehicle is registered:

   1. (a) The owner shall endorse on the certificate of title or title transfer form an assignment with the warranty of title.
   2. (b) Except as provided in section 28-2094, the owner shall deliver the certificate of title or title transfer form to the purchaser or transferee at the time of delivery of the vehicle to the purchaser or transferee.
   3. (c) The registration of the vehicle expires and the owner shall transfer the license plates, surrender the license plates to the department or an authorized third party or submit an affidavit of license plate destruction within thirty days after the owner transfers or assigns the owner's title or interest in the vehicle.
   4. (d) Except as provided in section 28-2091, the acquiring owner shall apply for registration or a certificate of title, or both, within fifteen days after the relinquishing owner transfers or assigns the relinquishing owner's certificate of title or interest in the vehicle. The director may prorate the registration period as the director deems necessary to coincide with emissions inspection requirements.
   5. (e) Except if the acquiring owner is an insurer who acquires the vehicle pursuant to a claim settlement, the acquiring owner shall display on the vehicle a temporary registration plate, another permit or a valid license plate as prescribed by the department until ownership of the vehicle is transferred in the department's records.

2. 2. Regardless of whether or not the vehicle is registered:

   1. (a) Except as provided in subsection B of this section, the owner shall deliver to the purchaser or transferee an odometer mileage disclosure statement in a form prescribed by the director.

   2. (b) Except as provided in sections 28-2051, 28-2060 and 28-2091, the purchaser or transferee shall present the certificate of title or title transfer form to the department with the required fee within fifteen days after the transfer and:

      1. (i) The department shall issue a new certificate of title.
      2. (ii) If required, the purchaser or transferee shall apply for and obtain registration, and the department shall issue new license plates to the purchaser or transferee.

B. The odometer disclosure requirement of subsection A of this section does not apply to:

1. 1. A motor vehicle that is ten model years of age if the model year is 2010 or older.
2. 2. A motor vehicle that is twenty model years of age if the model year is 2011 or newer.
3. 3. A motor vehicle that has a gross vehicle weight rating of sixteen thousand pounds or more.
4. 4. A vehicle that is not self-propelled.
5. 5. A motor vehicle that is sold directly by the manufacturer to an agency of the United States in conformity with contractual specifications.
6. 6. A new motor vehicle that is purchased for resale and not for use by the purchaser.