HB 2021-S.E - DIGEST

(AS OF HOUSE 2ND READING 3/13/03)

Requires that, when a vehicle is sold by a private party transaction between the registered owner and a private buyer, the registered owner must disclose if the vehicle being sold was or was not originally equipped with air bags, to the best of his or her knowledge. Effective January 1, 2004, the report of sale form, as provided for in this act, must contain the following statements which the registered owner must complete, in order for the report of sale to be deemed properly filed: "The vehicle described in this report of sale, to the best of my knowledge, does or does not (circle one) currently contain the same number and type of operational air bags with which it was originally equipped."

Declares that, for purposes of this act, "private party transaction" means a transaction in which a vehicle is being sold by the registered owner to a private buyer, and does not include any vehicle sale transactions executed by a licensed business.