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2012 SESSION
SB 421 Motor vehicle dealers; recovering title.
Introduced by: David W. Marsden | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Motor vehicle dealers; the Motor Vehicle Transaction Recovery Fund. Provides a new mechanism whereby a person who purchases a vehicle from a dealer may recover the title to that vehicle if the title is in the possession of someone other than the dealer. The bill also provides a mechanism by which awards against dealers' bonds from the Motor Vehicle Transaction Recovery Fund will be adjusted to keep pace with inflation and allows recovery against a dealer to include attorney fees. The bill also permits the Fund to drop below the previously mandated $250,000 balance requirement but not to register a negative balance and allows the Board to await a positive balance in the Fund before paying claims so long as they do not go unpaid for more than 60 days.
FULL TEXT
- 01/11/12 Senate: Prefiled and ordered printed; offered 01/11/12 12100894D pdf | impact statement
- 01/25/12 Senate: Committee substitute printed 12104722D-S1 pdf | impact statement
- 02/22/12 Senate: Bill text as passed Senate and House (SB421ER) pdf | impact statement
- 03/06/12 Governor: Acts of Assembly Chapter text (CHAP0119) pdf
HISTORY
- 01/11/12 Senate: Prefiled and ordered printed; offered 01/11/12 12100894D
- 01/11/12 Senate: Referred to Committee on Transportation
- 01/25/12 Senate: Committee substitute printed 12104722D-S1
- 01/25/12 Senate: Reported from Transportation with substitute (13-Y 0-N)
- 01/27/12 Senate: Constitutional reading dispensed (39-Y 0-N)
- 01/30/12 Senate: Read second time
- 01/30/12 Senate: Reading of substitute waived
- 01/30/12 Senate: Committee substitute agreed to 12104722D-S1
- 01/30/12 Senate: Engrossed by Senate - committee substitute SB421S1
- 01/31/12 Senate: Read third time and passed Senate (38-Y 0-N)
- 01/31/12 Senate: Reconsideration of passage agreed to by Senate (40-Y 0-N)
- 01/31/12 Senate: Passed Senate (40-Y 0-N)
- 02/13/12 House: Placed on Calendar
- 02/13/12 House: Read first time
- 02/13/12 House: Referred to Committee on Transportation
- 02/16/12 House: Reported from Transportation (22-Y 0-N)
- 02/17/12 House: Read second time
- 02/20/12 House: Read third time
- 02/20/12 House: Passed House BLOCK VOTE (98-Y 0-N)
- 02/20/12 House: VOTE: BLOCK VOTE PASSAGE (98-Y 0-N)
- 02/20/12 House: Reconsideration of House passage agreed to by House
- 02/20/12 House: Passed House BLOCK VOTE (98-Y 0-N)
- 02/20/12 House: VOTE: PASSAGE #2 (98-Y 0-N)
- 02/22/12 Senate: Enrolled
- 02/22/12 Senate: Bill text as passed Senate and House (SB421ER)
- 02/22/12 Senate: Signed by President
- 02/22/12 House: Signed by Speaker
- 03/06/12 Governor: Approved by Governor-Chapter 119 (effective 7/1/12)
- 03/06/12 Governor: Acts of Assembly Chapter text (CHAP0119)