A. Whenever a manufacturer or the agent or distributor of a manufacturer transfers a vehicle, not previously registered, to a dealer in this state, the manufacturer, agent or distributor at the time of transfer of the vehicle shall deliver to the dealer a manufacturer's certificate of origin. The certificate shall be signed by the manufacturer and shall specify that the vehicle described has been transferred to the dealer named and that the transfer is the first transfer of the vehicle in ordinary trade and commerce.
B. The certificate shall contain a description of the vehicle, number of cylinders, type of body, engine number, serial number or other standard identification number provided by the manufacturer of the vehicle and space for proper reassignment to a New Mexico dealer or to a dealer duly licensed or recognized as such in another state, territory or possession of the United States.
C. Any dealer when transferring a vehicle, not previously registered, to another dealer shall, at the time of transfer, give the transferee the proper manufacturer's certificate of origin fully assigned to the transferee.
D. When a vehicle not previously registered is transferred to a dealer who does not hold a franchise granted by the manufacturer of the vehicle to sell that type or model of vehicle, the transferee must obtain a registration of the vehicle and certificate of title but shall not be required to pay the excise tax imposed by Section 7-14-3 NMSA 1978.
History: 1953 Comp., § 64-3-118, enacted by Laws 1978, ch. 35, § 65; 2007, ch. 319, § 26.
The 2007 amendment, effective June 15, 2007, added Subsection B and changed the exemption from payment of excise tax from the tax imposed by Section 64-6-27 NMSA 1978 to the tax imposed by Section 7-14-3 NMSA 1978.
Am. Jur. 2d, A.L.R. and C.J.S. references. — 7A Am. Jur. 2d Automobiles and Highway Traffic § 31.
Structure New Mexico Statutes
Part 2 - TRANSFER OF TITLE OR INTEREST
Section 66-3-102 - Endorsement of assignment and warranty of title.
Section 66-3-105 - Transfer by operation of law.
Section 66-3-106 - Owner after transfer not liable for negligent operation.
Section 66-3-108 - Transfer to dealers.
Section 66-3-109 - Dealer's guarantee of title.
Section 66-3-110 - When division to reregister vehicle and issue new certificate.
Section 66-3-111 - Assignment by person holding lien.
Section 66-3-112 - Release by lienholder to owner.
Section 66-3-113 - Failure to deliver certificate; penalty.
Section 66-3-115 - Notification forms; copies; resale of salvaged vehicle or motor vehicle.
Section 66-3-116 - Title cancellation.
Section 66-3-119 - Vehicle to be dismantled.
Section 66-3-120 - Transportation of certain vehicles; proof of ownership.
Section 66-3-121 - Disposal of abandoned vehicle or motor vehicle.
Section 66-3-122 - Registration effective after death of owner.
Section 66-3-123 - Requirements of purchaser; forms; distribution.
Section 66-3-124 - Department to provide forms.
Section 66-3-125 - Restrictions upon licensees.
Section 66-3-126 - Casual sales; place of sale; advertising; penalty.
Section 66-3-127 - Warning of violation; removal of vehicle.