(a) Vehicle purchase, leasing, and sales records. A vehicle lessor or vehicle lease facilitator shall maintain a complete record of all vehicle purchases, leases, and sales of leased vehicles for at least one year after the expiration of the vehicle lease.
  (1) Complete records reflecting vehicle lease transactions that occurred within the preceding 24 months must be maintained at the licensed location. Records for prior time periods may be kept off-site.
  (2) Within 15 days of receipt of a request from a representative of the department, a vehicle lessor or vehicle lease facilitator shall deliver a copy of the specified records to the address listed in the request.
(b) Content of records for lease transaction. A complete record for a vehicle lease transaction must contain:
  (1) the name, address, and telephone number of the vehicle lessor;
  (2) the name, mailing address, physical address, and telephone number of each vehicle lessee;
  (3) the name, address, telephone number, and license number of the lease facilitator;
  (4) the name, work address, and telephone number of each employee of the vehicle lease facilitator that handled the transaction;
  (5) a complete description of the vehicle involved in the transaction, including the VIN;
  (6) the name, address, telephone number, and GDN of the dealer selling the vehicle, as well as the franchised dealer's license number if the vehicle is a new motor vehicle;
  (7) the amount of fee paid to the vehicle lease facilitator or a statement that no fee was paid;
  (8) a copy of the buyer's order and sales contract for the vehicle;
  (9) a copy of the vehicle lease contract;
  (10) a copy of all other contracts, agreements, or disclosures between the vehicle lease facilitator and the consumer lessee; and
  (11) a copy of the front and back of the manufacturer's statement of origin, manufacturer's certificate of origin, or the title of the vehicle, as applicable.
(c) Content of records for sale of leased vehicle. A vehicle lessor's complete record for each vehicle sold at the end of a lease to a lessee, a dealer, or at a wholesale motor vehicle auction must contain:
  (1) the date of the purchase;
  (2) the date of the sale;
  (3) the VIN;
  (4) the name and address of the person selling the vehicle to the vehicle lessor;
  (5) the name and address of the person purchasing the vehicle from the vehicle lessor;
  (6) except for a purchase or sale where the Tax Code does not require payment of motor vehicle sales tax, a tax assessor-collector receipt marked paid;
  (7) a copy of all documents, forms, and agreements applicable to a particular sale, including a copy of:
    (A) the title application;
    (B) the work-up sheet;
    (C) the front and back of manufacturer's certificate of origin or manufacturer's statement of origin, unless the title is obtained through the electronic title system;
    (D) the front and back of the title, unless the title is obtained through the electronic title system;
    (E) the factory invoice;
    (F) the sales contract;
    (G) the retail installment agreement;
    (H) the buyer's order;
    (I) the bill of sale;
    (J) any waiver;
    (K) any other agreement between the seller and purchaser; and
    (L) the purchaser's photo identification if sold to a lessee;
  (8) a copy of the original manufacturer's certificate of origin, original manufacturer's statement of origin, or title for motor vehicle offered for sale, or a properly stamped original manufacturer's certificate of origin, original manufacturer's statement of origin, or original title for a title transaction entered into the electronic titling system by a dealer;
  (9) the monthly Motor Vehicle Seller Financed Sales Returns, if any; and
  (10) if the vehicle sold is a motor home or a towable recreational vehicle subject to inspection under Transportation Code, Chapter 548, a copy of the written notice provided to the buyer at the time of the sale, notifying the buyer that the vehicle is subject to inspection requirements.
(d) Records of advertising. A vehicle lessor or vehicle lease facilitator shall maintain a copy of all advertisements, brochures, scripts, or an electronically reproduced copy in whatever medium appropriate, of promotional materials for a period of at least 18 months. Each copy is subject to inspection upon request by the department at the business location during posted business hours.
  (1) A vehicle lessor and a vehicle lease facilitator shall comply with all federal and state advertising laws and regulations, including Subchapter F of this chapter (relating to Advertising).
  (2) A vehicle lessor's or vehicle lease facilitator's advertising or promotional materials may not state or infer, either directly or indirectly, that the business involves the sale of new motor vehicles.
(e) Title assignments. Each certificate of title, manufacturer's certificate of origin, or other evidence of ownership for a vehicle that has been acquired by a vehicle lessor for lease must be properly assigned from the seller in the vehicle lessor's name.
(f) Letters of representation or appointment. A letter of representation or appointment between a vehicle lessor and a vehicle lease facilitator must be executed by both parties and maintained by each party.
(g) Electronic records. Any record required to be maintained by a vehicle lessor or vehicle lease facilitator may be maintained in an electronic format, provided the electronic record can be printed at the licensed location or sent electronically upon department request.

Source Note: The provisions of this §215.178 adopted to be effective February 11, 2010, 35 TexReg 883; amended to be effective February 13, 2017, 42 TexReg 571; amended to be effective June 1, 2024, 49 TexReg 2704