You can also use a Peake Research SRS tool to reset the light, but keep in mind reseting the light is not always a permanent fix, nor is it a substitute for repair. If you have several BMWs though, it and the code reader are handy to have around and can save you trips into the service bay.

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BMWCCA Chapter President, Hawaii Chapter (fmr)
03' X5 4.4i, 02' MCoupe, 99' MCoupe (sold), 88' M3, 01' E39 M5