In a world of technological innovations, the automobile industry is no stranger to electronic trends. However, regulations requiring car dealers to retain physical copies of documents and obtain “wet” signatures often make the legal side of the auto industry feel like a metaphorical Stone Age. The good news is that the tide is slowly shifting.
Auto dealers may not yet be aware that as of March 21, 2018, the Ohio Bureau of Motor Vehicles now accepts federal odometer statements that customers electronically sign with a stylus pen. This, of course, still requires in-person verification at the time of signing. Although stylus signatures will now receive the same credence as a “wet” signature, it is important to remember that the BMV will continue to reject typed signatures or otherwise electronically-generated signatures.
This recent development is a hopeful sign that industry regulations will continue moving forward with modern business processes. Auto dealers should seek experienced legal counsel to help navigate the ever-changing regulatory framework.
* Adam Steele contributed to this post.