41-3-401.6. Transaction disclosure form.
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Effective 7/1/2023
41-3-401.6. Transaction disclosure form.
(a)Before a sale is finalized, a licensee shall provide the transaction disclosure form described in Subsection
(3).
(b)The licensee and the purchaser shall each execute the transaction disclosure form to memorialize the negotiated terms and prices of the sale.
(c)The licensee shall provide the purchaser a copy of the transaction disclosure form.
(2)The commission shall create the transaction disclosure form as described in Subsection
(3).
(3)The transaction disclosure form shall include:
(a)the negotiated sale price of the vehicle;
(b)the negotiated value of the trade-in vehicle, if applicable;
(c)an itemized list of the following legally required taxes and fees:
(i)a temporary permit fee pursuant to Section 41-1a-211 ;
(ii)a fee required in Chapter 1a, Part 5, Titling Requirement ;
(iii)motor vehicle registration fees required under this title;
(iv)a dealer documentary service fee as described in rules made in accordance with Sections 41-3-301 and 41-3-302 ;
(v)sales and use taxes required by Title 59, Chapter 12, Sales and Use Tax Act ; and
(vi)any other taxes or fees required by federal or state law to be paid by the purchaser of a motor vehicle;
(d)the subtotal of the amounts described in Subsections (3)(a) through
(c);
(e)any other optional charges as negotiated by the licensee and purchaser; and
(f)the total amount for which the licensee agrees to seek arrangements for financing, if applicable.
(4)A transaction disclosure form described in this section is not required for a sale at auction or a fleet transaction.
Enacted by Chapter 63 , 2023 General Session