A transitional ownership record is acceptable as an ownership record only if the primary ownership record is not in the possession of the selling dealer, new security interest holder or the agent of either at the time the transitional ownership record is submitted to the Department of Transportation. [1989 c.927 § 8; 1993 c.233 § 42; 1995 c.309 § 1; 1999 c.818 § 1]

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