Bill Summary for S 370 (2015-2016)

Summary date: 

Mar 23 2015

Bill Information:

View NCGA Bill Details2015-2016 Session
Senate Bill 370 (Public) Filed Monday, March 23, 2015
AN ACT TO ALLOW THE USE OF ELECTRONIC MEANS TO SIGN AND NOTATE CERTAIN DOCUMENTS REQUIRED BY THE DIVISION OF MOTOR VEHICLES AND TO PROVIDE THAT A SECURED PARTY SHALL PROVIDE ELECTRONIC NOTICE OF THE SATISFACTION OR OTHER DISCHARGE OF A SECURITY INTEREST IN A MOTOR VEHICLE FOR WHICH THE CERTIFICATE OF TITLE IS NOTATED BY A LIEN THROUGH ELECTRONIC MEANS.
Intro. by Barefoot.

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Bill summary

Amends GS 20-52, concerning applications for registration and certificate of title with the Department of Motor Vehicles (DMV) providing that, unless prohibited by federal law, applications for a certificate of title, a registration plate, a registration card, and any other document required by the DMV to be submitted with the application and requiring a signature, can be submitted to the DMV with an electronic signature in accordance with GS Chapter 66, Article 40. Provides authorization for the electronic notarization of any electronic signature required on any application or document submitted to the DMV in accordance to GS Chapter 10B, Article 2.

Amends GS 20-58.4, concerning the release of a security interest, providing that secured parties must send electronic notice of the discharge or satisfaction of a security interest in a vehicle, which the certificate of title data is notated by a lien through electronic means, within two business days from the date of satisfaction to the DMV by way of the electronic lien release system, pursuant to GS 20-58.4A. Sets out requirements for the electronic notice and requirements for the DMV to notify specified parties.

Effective December 1, 2015.

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