It is enacted by the General Assembly as follows:

SECTION 1. Section 31-46-7 of the General Laws in Chapter 31-46 entitled "Rhode Island Salvage Law" is hereby amended to read as follows:

{ADD 31-46-7. Repair of salvaged vehicles -- Licenses. -- ADD} (a) A salvage rebuilders' license shall be established and issued to all licensed auto body repair facilities that qualify under established guidelines. Such regulation shall outline equipment and training necessary to rebuild (total loss) salvage vehicles {DEL bought for the purpose of resale in the retail market DEL} {ADD prior to the issuance of a certificate of salvage title by the division of Motor Vehicles under section 31-46-4 of the Rhode Island General Laws ADD} . The guidelines shall be promulgated by and the license shall be issued by the department of business regulation.

{DEL (b) No company, corporation, business or person(s) shall sell, trade or otherwise exchange salvage vehicles for the purpose of rebuilding to any other company, corporation, business or person(s) not possessing a valid salvage rebuilders license. DEL}

{DEL (c) DEL} {ADD (b) ADD} No company, corporation, business or person(s) shall {DEL buy or attempt to DEL} rebuild salvage vehicles unless in possession of a valid salvage rebuilders license.

{DEL (d) DEL} {ADD (c) ADD} Any vehicle {ADD repaired or rebuilt ADD} {DEL meeting the aforementioned criteria purchased DEL} by person(s) not in possession of such license shall have its title stamped "FOR PARTS ONLY".

{DEL (e) DEL} {ADD (d) ADD} Any company, agency or person(s) found in violation of this section shall be guilty of a felony and shall be punished by imprisonment for not more than two (2) years or a fine of five thousand dollars ($5,000) or both.

{ADD (e) The director of the Rhode Island department of business regulation shall be required to issue a 'salvage rebuilders license form' which for the purposes of record keeping shall be numbered. Any salvage vehicle sold to a salvage rebuilder licensee shall be assigned a salvage rebuilders license form which shall be presented at the time of registration of any salvage vehicle. ADD}

SECTION 2. This act shall take effect upon passage.