Rules Clarifying SHAD Recordkeeping Reqiurements

Adopted Rules: Closed to Comments

Effective Date: 
Saturday, January 4, 2020
Agency:
Keywords:
Download Copy of Adopted Rule (.pdf): 

Statement of Basis and Purpose of Rule

 

DCA is amending Section 2-109 of Title 6 of the Rules of the City of New York relating to the record keeping requirements for secondhand automobile dealers.

 

Recently, the New York State Department of Motor Vehicles issued a new regulation that requires automobile dealers, absent limited exceptions, to use an electronic recordkeeping system called the Vehicle Electronic Reassignment and Integrated Facility Inventory (“VERIFI”).  See 15 NYCRR 78.9.  Under New York City law, secondhand automobile dealers must maintain written records of all transactions with specific information such as a description of the automobile purchased or sold and name and address of the buyer or seller.  See NYC Admin. Code § 20-273. 

 

DCA is amending its rule to clarify that a record maintained by a dealer in the VERIFI system satisfies the requirements of Section 20-273 of the New York City Administrative Code if it contains the information required by Section 20-273.  In other words, this amendment makes clear that secondhand automobile dealers need not maintain separate records to comply with the New York State VERIFI requirements and the New York City Administrative Code requirements.