DMV/VERIFI Tip of the Week, #71
Secure Paper MV-50 Inventories
Prior to VERIFI implementation in October 2018, DMV allowed dealers to increase their inventories of secure paper MV-50s to ease any concerns about the transition to the new system. Now that VERIFI is fully operational, the DMV will restore secure paper MV-50 inventory limits to pre-VERIFI levels.
That means, orders to replace a completed MV-50 book will be processed only if delivery of the replacement book does not result in the dealer exceeding pre-VERIFI limits for secure paper MV-50 inventory. Payments received for unfulfilled orders will be returned to the dealer.
Beginning October 1st, the DMV will set secure paper MV-50 inventory limits based on upon dealer sales volumes.