§ 23-7. Records to be kept.

(a)

Every person who, as a dealer, shall make any sale, purchase, transfer or exchange of either a new or used motor vehicle or new or used motor vehicle trailer in the city shall keep a written record of any and all transfers and assignments, if any, made by such person, or chattel mortgages, liens or notes covered by or secured by lien upon such motor vehicle trailers, such record to show the name and address of each transferee, description of the mortgage lien or note transferred and of the property affected thereby, including the VIN, model and license number of the motor vehicle or serial number of the trailer therein involved.

(b)

Every licensee under this chapter who shall repossess any motor vehicle or trailer or foreclose any lien or mortgage upon any motor vehicle shall keep a written record thereof, and of each such repossession or foreclosure, stating the name of the mortgagor or mortgagors, the amount of indebtedness, principal, interest and other items, if any, separately, the date and manner of foreclosure, whether by suit or private sale, the description of the property repossessed or foreclosed upon, including the VIN, model and license number of the motor vehicle or serial number of the trailer therein involved, and the name and address of the purchaser thereof.

(c)

Except as otherwise provided by this chapter, the records required to be kept under this chapter shall be retained for a period of not fewer than seven (7) years and shall at all times be available and open for inspection by the chief of police or his duly authorized representative.

(Ord. No. 2004-27, § 2(Att. 1), 8-17-04)