(1) An owner who consigns a vehicle to a vehicle dealer to be offered for sale or exchange on behalf of the owner to a third party purchaser, shall provide the dealer with either the certificate of title to the vehicle along with a power of attorney designating the dealer as an agent of the owner, or a duly executed consignment agreement between the dealer and the owner, along with a copy of the certificate of title of the vehicle being consigned.
(2) A consignment agreement shall contain at the least, the following: The name and current address of the owner of the vehicle as shown on the certificate of title;
(3) The name and current address of any person holding a lien on the vehicle;
(4) The name of the consignee;
(5) A description of the vehicle including the vehicle’s make, model, vehicle identification number and odometer reading; and
(6) A statement that the owner has appointed the vehicle dealer as his agent for the purpose of offering the vehicle for sale.