HARRY HUGHES, Governor                                    1701

[(d)] (E) No person other than a dealer may buy in this

State and no person may sell in this State any used vehicle  of a

type for which a certificate of title is required under this
subtitle unless:

(1)  A certificate of title of the vehicle has been
issued by the Administration or by another state or country; or

(2)  A certificate of registration of the vehicle has
been issued by a state or country that does not issue
certificates of title of such vehicles.

13-113.

(a) [(1)] If the transferee of a vehicle is a licensed
dealer who holds the vehicle for sale, the dealer shall[:

(i) Within] WITHIN 15 days of the date of the

transfer to the dealer of the vehicle, obtain the certificate of
title of the vehicle, which shall contain an assignment and
warranty of title executed by the former owner[; and

(ii) Retain the certificate of title in his
possession until the further sale or transfer of ownership of the
vehicle].

(B) IF THE TRANSFEREE OF A VEHICLE IS A LICENSED DEALER WHO
HOLDS THE VEHICLE FOR SALE, THE DEALER SHALL RETAIN THE
CERTIFICATE OF TITLE IN HIS POSSESSION UNTIL THE FURTHER SALE OR
TRANSFER OF OWNERSHIP OF THE VEHICLE.

[(2)] (C) During business hours, the licensed dealer
shall allow any representative of the Administration and any
police officer full access to all certificates of title of
vehicles held by him for sale.

[(b)] (D) If a licensed dealer holds a vehicle for sale and
transfers the vehicle to another licensed dealer who holds the
vehicle for sale, the transferring dealer, without applying for a
new certificate of title, shall:

(1)  Execute an assignment of title to the transferee
dealer in the manner and on the form that the Administration
requires; and

(2)  Include in the assignment a statement certifying
each security interest, lien, or other encumbrance on the
vehicle.

[(c)] (E) (1) If a licensed dealer holds a vehicle for
sale and transfers the vehicle to someone other than another
licensed dealer who holds the vehicle for sale, the dealer shall: