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2006 LAWS OF MARYLAND
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Ch. 152
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Article - Transportation
Section 13-809(a)
Annotated Code of Maryland
(2002 Replacement Volume and 2005 Supplement)
BY repealing and reenacting, with amendments,
Article — Transportation
Section 13-809(a)
Annotated Code of Maryland
(2002 Replacement Volume and 2005 Supplement)
(As enacted by Chapters 361 and 362 of the Acts of the General Assembly of
2001)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Transportation
13-809.
(a) (1) In this section the following words have the meanings indicated.
(2) "Fair market value" means:
(i) Except as provided in item [(iv)] (V) of this paragraph, as to the
sale of any new or used vehicle by a licensed dealer, the total purchase price, as
. certified by the dealer;
(ii) [As] EXCEPT AS PROVIDED IN ITEM (IV) OF THIS PARAGRAPH,
AS to a used vehicle that is sold by any person other than a licensed dealer and that
has a designated model year that is 7 years old or older, the greater of:
1. The total purchase price; or
2. $640;
(iii) [As] EXCEPT AS PROVIDED IN ITEM (IV) OF THIS PARAGRAPH,
AS to any other used vehicle that is sold by any person other than a licensed dealer:
1. The total purchase price, if the total purchase price is less
than $500 below the retail value of the vehicle as shown in a national publication of
used car values adopted for use by the Department; or
2. If the total purchase price is $500 or more below the retail
value of the vehicle as shown in a national publication of used car values adopted for
use by the Department:
A. The total purchase price, if verified to the satisfaction of
the Administration by a notarized bill of sale submitted in accordance with subsection
(d)(2) of this section; or
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