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2005 SESSION

• | print version

SB 1315 Motor vehicle title; forfeiture thereof if security interest not paid, penalty.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Release of security interest in motor vehicle certificate of title; penalty.  Requires a secured party that fails to mark satisfied and surrender a certificate of title within 15 days after its security interest is satisfied to forfeit $500 to the owner. If the $500 is not paid within 10 business days after demand in writing, the secured party is required to pay the owner's court costs and reasonable attorneys' fees. The failure to release a security interest within 10 days is currently punishable as a Class 3 misdemeanor.

FULL TEXT

• 01/21/05  Senate: Presented & ordered printed 059201716  pdf | impact statement

HISTORY

• 01/21/05  Senate: Presented & ordered printed 059201716
• 01/21/05  Senate: Referred to Committee on Transportation
• 02/08/05  Senate: Left in Transportation