General Assembly Committee Bill No. 503
January Session, 2015 LCO No. 5079
*05079SB00503TRA*
Referred to Committee on TRANSPORTATION
Introduced by:
(TRA)
General Assembly
Committee Bill No. 503
January Session, 2015
LCO No. 5079
*05079SB00503TRA*
Referred to Committee on TRANSPORTATION
Introduced by:
(TRA)
AN ACT LIMITING DEALER CONVEYANCE FEES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. Subsection (a) of section 14-62 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2015):
(a) Each sale shall be evidenced by an order properly signed by both the buyer and seller, a copy of which shall be furnished to the buyer when executed, and an invoice upon delivery of the motor vehicle, both of which shall contain the following information: (1) Make of vehicle; (2) year of model, whether sold as new or used, and on invoice the identification number; (3) deposit, and (A) if the deposit is not refundable, the words "No Refund of Deposit" shall appear at this point, and (B) if the deposit is conditionally refundable, the words "Conditional Refund of Deposit" shall appear at this point, followed by a statement giving the conditions for refund, and (C) if the deposit is unconditionally refundable, the words "Unconditional Refund" shall appear at this point; (4) cash selling price; (5) finance charges, and (A) if these charges do not include insurance, the words "No Insurance" shall appear at this point, and (B) if these charges include insurance, a statement shall appear at this point giving the exact type of coverage; (6) allowance on motor vehicle traded in, if any, and description of the same; (7) stamped or printed in a size equal to at least ten-point bold type on the face of both order and invoice one of the following forms: (A) "This motor vehicle not guaranteed", or (B) "This motor vehicle is guaranteed", followed by a statement as to the terms of such guarantee, which terms shall include the duration of the guarantee or the number of miles the guarantee shall remain in effect. Such statement shall not apply to household furnishings of any trailer; (8) if the motor vehicle is new but has been subject to use by the seller or use in connection with his business as a dealer, the word "demonstrator" shall be clearly displayed on the face of both order and invoice; (9) any dealer conveyance fee or processing fee and a statement that such fee is not payable to the state of Connecticut printed in at least ten-point bold type on the face of both order and invoice; and (10) the dealer's legal name, address and license number. For the purposes of this subdivision, "dealer conveyance fee" or "processing fee" means a fee of not more than seventy-five dollars, charged by a dealer to recover reasonable costs for processing all documentation and performing services related to the closing of a sale, including, but not limited to, the registration and transfer of ownership of the motor vehicle which is the subject of the sale.
This act shall take effect as follows and shall amend the following sections:
Section 1 October 1, 2015 14-62(a)
This act shall take effect as follows and shall amend the following sections:
Section 1
October 1, 2015
14-62(a)
Statement of Purpose:
To amend the definition of "dealer conveyance fee" or "processing fee" to limit such fee to seventy-five dollars or less.
[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]
Co-Sponsors: SEN. LOONEY, 11th Dist.
Co-Sponsors:
SEN. LOONEY, 11th Dist.
S.B. 503