(A) Upon the sale, transfer, or trade-in of a motor vehicle, or if licensing a motor vehicle in the state which is titled in another state or jurisdiction, the seller, transferor, trader, or person wishing to license in the state the motor vehicle which is titled in another state or jurisdiction shall submit an accurately completed damage disclosure statement when applying for a certificate of title pursuant to SDCL § 32-3-18. The completed damage disclosure statement may be on the back of the certificate of title or on a separate document that has been approved for use by the Department. Except as otherwise provided by this section, no certificate of title may be issued by the Department unless the damage disclosure statement accompanies the application. It is a Class 1 misdemeanor to intentionally falsify any information on the damage disclosure statement. No person or dealer is liable to a subsequent owner of a vehicle because a prior owner of the vehicle failed to disclose that the vehicle had previously been damaged and repaired. This section does not apply to motor vehicles more than six model years old or with a gross vehicle weight rating of more than 16,000 pounds and does not apply if a rebuilt title or junking certificate is sought.
(B) This section does apply to all other motor vehicles, but only damage in excess of $5,000 shall be disclosed in the statement. If the motor vehicle has incurred damages more than once, only those damages which occurred at one time would be considered in determining whether the damages exceeded $5,000.
Penalty, see § 70.99