257.1351 Definitions. Sec. 1. As used in this act: (a) “Agent” means an individual who, for compensation or valuable consideration, is employed either directly or indirectly by a dealer. (b) “Dealer” means any person that engages in the ordinary course of repeated and recurrent transactions of buying or receiving used motor vehicle parts from persons […]
257.1352 Record of transaction. Sec. 2. (1) A dealer shall maintain a permanent record of each transaction concerning the buying or receiving of any used motor vehicle part from a person, other than an end-user or scrap tire processor that is regulated under part 169 of the natural resources and environmental protection act, 1994 PA […]
257.1352a Form of payment. Sec. 2a. In a transaction concerning the buying or receiving of any used motor vehicle tires, tire wheels or rims, or continuous tire tread, the only methods of payment a dealer may use to pay a customer are a check, a money order, a bank draft, or a direct deposit or […]
257.1353 Failure to make entry in record as misdemeanor or felony; penalties. Sec. 3. (1) A dealer or agent who knowingly fails to make an entry of any material matter in his or her record of transactions as required by section 2 is guilty of a misdemeanor, punishable by imprisonment for not more than 1 […]
257.1354 Violation as misdemeanor or felony; penalties. Sec. 4. (1) A dealer or agent that knowingly violates section 2(3), (4), or (5) or section 2a is guilty of a misdemeanor, punishable by imprisonment for not more than 1 year, or a fine of $1,000.00, or both. (2) A dealer or agent that knowingly violates section […]
257.1355 Felonious conduct; penalty. Sec. 5. A dealer or agent who does any of the following is guilty of a felony, punishable by imprisonment for not more than 2 years, or a fine of $5,000.00, or both: (a) Totally fails to record a transaction on a record of transaction form as required by section 2. […]
