342.156 Transfers of leased motor vehicles.
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342.156 Transfers of leased motor vehicles.
(1)Prior to transferring ownership of any leased motor vehicle, the lessor shall notify in writing the lessee of the vehicle that the lessee is required to provide the lessor with a written disclosure specifying the leased vehicle’s mileage. The written notification shall include the mileage disclosure requirements applicable to the lessee under 49 CFR 580.7 and rules of the department and the penalties for failure to comply with those requirements.
(2)Upon termination of the lease after written notification from the lessor under sub.
(1), the lessee shall disclose the vehicle’s mileage in writing to the lessor. The mileage disclosure record under this section shall be signed by the lessee and include the information required under sub.
(1)and rules of the department.
(3)The lessor shall retain and make available for inspection any mileage disclosure record required to be made by a lessee with respect to a leased motor vehicle.