No licensed motor vehicle dealer shall have in his or her possession as inventory for sale any used motor vehicle of an age of less than twenty-five years for which the dealer does not have in his or her possession the transferor’s statement required by section 60-192 unless a certificate of title has been issued for such motor vehicle in the name of the dealer. Violation of sections 60-190 to 60-196 shall be grounds for suspension or revocation of a motor vehicle dealer’s license under the Motor Vehicle Industry Regulation Act.

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Terms Used In Nebraska Statutes 60-194

  • Motor vehicle: means any vehicle propelled by any power other than muscular power. See Nebraska Statutes 60-123
  • Vehicle: means a motor vehicle, all-terrain vehicle, utility-type vehicle, minibike, trailer, or semitrailer. See Nebraska Statutes 60-136