(1) Each motor vehicle certificate of title, at the time it is issued to the transferee, shall contain:

1. (a) the mileage disclosed by the transferor when ownership of the motor vehicle was transferred; and
2. (b) a space for the information required to be disclosed under this section at the time of future transfer of ownership.

(2) At the time of any sale or transfer of a motor vehicle, the transferor shall furnish to the transferee a written odometer disclosure statement in a form prescribed by the division. This statement shall be signed and certified as to its truthfulness by the transferor, stating:

1. (a) the date of transfer;
2. (b) the transferor's name and address;
3. (c) the transferee's name and address;
4. (d) the identity of the motor vehicle, including its make, model, year, body type, and identification number;
5. (e) the odometer reading at the time of transfer, not including tenths of miles or tenths of kilometers;

6. (f)

   1. (i) that to the best of the transferor's knowledge, the odometer reading reflects the amount of miles or kilometers the motor vehicle has actually been driven;
   2. (ii) that the odometer reading reflects the amount of miles or kilometers in excess of the designed mechanical odometer limit; or
   3. (iii) that the odometer reading is not the actual amount of miles or kilometers; and
7. (g) a warning to alert the transferee if a discrepancy exists between the odometer reading and the actual mileage.

(3)

1. (a) Each transferee of a motor vehicle shall acknowledge receipt of the odometer disclosure statement required by Subsection (2) by signing it, and the transferor shall deliver to the transferee the original odometer disclosure statement. Both the transferor and the transferee shall retain a legible copy of the odometer disclosure statement for not less than four years.
2. (b) A dealer who is required under Section 41-3-301 to title and register a motor vehicle sold to a customer shall surrender the original odometer disclosure statement to the division and deliver a copy to the transferee.

(4) Notwithstanding the requirements of this section, the odometer mileage need not be disclosed by a transferor of:

1. (a) a single motor vehicle having a manufacturer specified gross laden weight rating of more than 16,000 pounds, or a motor vehicle registered in this state for a gross laden weight of 18,000 pounds or more;
2. (b) a motor vehicle that is 10 years old or older;
3. (c) a motor vehicle sold directly by the manufacturer to any agency of the United States in conformity with contractual specifications; or
4. (d) a new motor vehicle prior to its first transfer for purposes other than resale.