1. (a) Each person who conducts auctions as a business in this State of motor vehicles of a type required to be registered under this article shall keep a record of:

   1. (1) The name and address of the consignor;
   2. (2) The date on which it was consigned;
   3. (3) The year, make, model, and serial number of each vehicle consigned;
   4. (4) The title number and state where the vehicle was last registered;
   5. (5) The odometer mileage reading at the time of consignment;
   6. (6) The name and address of the person to whom the vehicle was sold;
   7. (7) The selling price; and
   8. (8) The date of sale.
2. (b) During business hours, the records shall be open to inspection by the Administration, by the Department of State Police, or by a law enforcement officer with a county or municipal police department or sheriff's office who is assigned to an antitheft unit.
3. (c) The records required by this section shall be kept for at least 3 years after the transaction to which it applies.

4. (d) A person who fails to comply with any requirement under subsections (a) through (c) of this section is subject to a civil penalty not exceeding:

   1. (1) For a first offense, $500; or
   2. (2) For a second or subsequent offense, $1,000.

Added by Acts 1978, c. 589. Amended by Acts 2000, c. 505, § 1, eff. Oct. 1, 2000; Acts 2003, c. 105, § 1, eff. Oct. 1, 2003.