PURPOSE: This rule establishes the requirements for retention of business records associated with the licensure of motor vehicle manufacturers, boat manufacturers, motor vehicle dealers and boat dealers.

1. (1) Every motor vehicle or boat manufacturer, motor vehicle dealer or boat dealer licensed pursuant to sections 301.550– 301.572, RSMo must keep and maintain books, records, files and other matters required and necessary to conduct the business of manufacturing and/or selling motor vehicles, trailers and/or boats.
2. (2) Pertinent records of a licensee which must be kept and maintained at the bona fide established place of business are those records maintained in the regular course of business and directly concerned with the manufacture, purchase, sale, rental or lease of a vehicle, trailer or boat.
3. (3) Unless otherwise specified by statute, all business records relating to licensure as a motor vehicle manufacturer, boat manufacturer, motor vehicle dealer or boat dealer and transactions conducted by a licensee shall be maintained by the dealer or manufacturer for not less than three (3) years.
4. (4) When, for any reason, a motor vehicle manufacturer, boat manufacturer, a motor vehicle dealership or a boat dealership terminates business, all licenses granted by the commission shall be returned to the office of the commission.
5. (5) A licensee must maintain the business records of the licensed business at the office of the principal place of business or, if the licensee has a branch location, records peculiar to that branch may be maintained either at the branch location or at the principal place of business.

AUTHORITY: section 301.553, RSMo (Cum. Supp. 1989).* Original rule filed July 10, 1989, effective Sept. 28, 1989.

*Original authority 1988, amended 1989.