Indiana Administrative Code
Title 75 - SECRETARY OF STATE
Article 6 - AUTO DEALER SERVICES
Rule 2 - Licensing
Section 2-8 - Consignment sales
Current through March 20, 2024
Authority: IC 9-32-3-1
Affected: IC 9-32
Sec. 8.
(a) A consignor who consigns a motor vehicle or watercraft to a consignee to be offered for sale and sold by the consignee on behalf of the consignor to a third party purchaser must provide the consignee with:
(b) The consignor must be identified to the buyer by the consignee.
(c) A consignment agreement for consignment sales must contain, but is not limited to, the following information:
A consignment agreement must be completed for each motor vehicle or watercraft offered for sale on the consignment sales lot regardless of whether or not the consignor has provided a title. A copy of the consignment agreement must be maintained continuously for a period of three (3) years.
(d) Consignment arrangements do not apply to a licensed dealer's inventory.
(e) The motor vehicle or watercraft must be registered by the consignor and insured by the consignor for the purpose of demonstration of the vehicle. The consignee is not eligible for interim plates.
(f) A consignment sale must take place at the consignee's established place of business.
(g) A motor vehicle being offered for sale by a consignee must be clearly marked as a consigned motor vehicle in a manner that makes the consigned motor vehicle easily distinguishable from the consignor's inventory.