Effective September 15, 2023, dealerships must conform to New Power of Attorney (POA), Odometer Disclosure Statement and new rules for General and Limited POAs announced by NJMVC. NJ CAR will soon be announcing seminars and/or webinars to explain the new forms in detail.
We are also still awaiting final sign-off from NJMVC on comprehensive FAQs submitted by dealers and the Coalition. We will forward them to everyone as soon as they are finalized by NJMVC.
NJMVC requires a new Non-Secure POA to be used if dealerships choose to use electronic signatures on POAs. Additionally, the NJMVC requires a Secure POA to be used when title is either lost or held by a lienholder (the classic trade situation).
Dealerships who wish NOT to implement the new Non-Secure POA to be used with electronic signatures, may continue to use a General or Limited POA that can be on Dealer Letterhead. However, these POAs must now be notarized.
Whether a Dealership implements the new Non-Secure POA or continues to use their current General or Limited POAs, they must also supply an Odometer Disclosure Statement that can either be electronically signed or wet signed.
While the forms are effective immediately, dealers can utilize the grace period until September 15, 2023, to familiarize themselves with the forms and upload the Non-secure POA and Odometer Disclosure Statement in their systems to be e-signed.
The new forms can be found on the NJMVC website and are available for download at https://www.state.nj.us/mvc/about/forms.htm.
If dealers have questions about this topic or any other questions, they should contact Greyson P. Hannigan, NJ CAR’s Director of Legal & Regulatory Affairs at (609) 883-5056 – ext. 340 or via email at [email protected].