A BILL TO BE ENTITLED AN ACT TO REQUIRE THE DIVISION OF MOTOR VEHICLES TO IMPLEMENT A STATEWIDE ELECTRONIC LIEN SYSTEM TO PROCESS THE NOTIFICATION AND RELEASE OF SECURITY INTEREST AND CERTIFICATE OF TITLE DATA.
House committee substitute makes the following changes to the 1st edition.
Directs theDivision of Motor Vehicles (DMV)to contract with a qualified vendor or vendors (was, a single vendor only)to implementa statewide electronic lien system. Makes conforming changes to reflect that the DMV may contract with a vendor or vendors. Amends the minimum standards the DMV is to set when contracting with a qualified vendor or vendors to require the DMV to issue a competitive request for proposal (RFP) to evaluate the qualifications of any vendor or vendors responsible for the ongoing support of the state electronic lien system. Permits the DMV to receive input from parties that do not respond to an RFP to establish and operate an electronic lien system.
Permits the qualified vendor or vendors to charge participating lienholders and their agents a per-transaction fee, consistent with market pricing, in an amount not more than $3.50 (was, $8.00). Permits participating lienholders and their agents to charge the borrower of a motor vehicle loan or the lessee of an automotive lease an amount that is equal to the transaction fee, plus a feethat does not exceed $4.00 for each electronic transaction where a lien is notated.
Requires a qualified vendor to have experience in directly providing electronic solutions to state motor vehicle departments or agencies (was, providingelectronic lien services to both lienholders and state motor vehicle departments or agencies). However, provides that a qualified vendor may also serve as a service provider to lienholders if all of the specified conditions are met.
Makes organizational and conforming changes.
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