Standards for issuing temporary registration transfers

A leasing company authorized by the commissioner to issue a twenty-day transfer of a registration shall conform to the following: (a) A transfer of registration from one leased vehicle to another leased vehicle shall be valid only if both vehicles are passenger vehicles, not including motorcycles, and if each vehicle is either a new vehicle not previously registered in this state and having a certificate of origin, or a vehicle having a certificate of title in this state without a lien holder listed thereon where such vehicle is less than ten (10) years old such that inspection is not required upon a transfer of registration; (b) A leasing company shall use the stamp(s) as directed by the commissioner only for a transfer of registration as provided in subsection (a) of this section. Any other use of such stamp(s) shall be a violation; (c) A leasing company which transfers a registration in accordance with this regulation shall submit to the commissioner within five (5) business days after such transfer an application for permanent registration for the vehicle transferred together with all necessary documents and any payment(s) required by law. Failure to submit documents or payment(s) within the time specified shall be a violation.