Bill Summary for S 411 (2017-2018)

Printer-friendly: Click to view

Summary date: 

Apr 24 2017

Bill Information:

View NCGA Bill Details2017-2018 Session
Senate Bill 411 (Public) Filed Tuesday, March 28, 2017
AN ACT TO EXPAND THE REQUIRED USE OF THE ELECTRONIC LIEN SYSTEM IMPLEMENTED BY THE DIVISION OF MOTOR VEHICLES, TO REVISE THE LAW GOVERNING WHEN A MOTOR VEHICLE DEALER THAT DOES NOT HAVE A MOTOR VEHICLE'S STATEMENT OF ORIGIN OR CERTIFICATE OF TITLE MAY TRANSFER TITLE TO THE MOTOR VEHICLE, AND TO MAKE OTHER CHANGES TO LAWS AFFECTING MOTOR VEHICLE DEALERS.
Intro. by B. Jackson.

View: All Summaries for BillTracking:

Bill summary

Senate committee substitute makes the following change to the 1st edition.

Amends GS 20-72 (Transfer by owner). Deletes the proposed amendment authorizing a motor vehicle dealer to transfer title by certifying specified statements regarding liens, to the best of the dealer's knowledge and information. Replaces the provision authorizing a dealer to submit a completed form and certificate of title within a reasonable time of obtaining or receiving the form with a requirement that the form and certificate be submitted no later than 45 days following the sale or transfer of the vehicle. Replaces the provision subjecting a dealer principal, owner, or manager of a dealership to liability for a violation of the statute with one providing that the dealer principal, owner, or manager of a dealership is liable in accordance with new GS 20-72.1. Provides an exemption to the requirement that a person transferring title or interest deliver the certificate of title at the time of delivering the vehicle for when the certificate of title is unavailable as provided in new GS 20-72.1.

Enacts new GS 20-72.1. Directs a motor vehicle dealer, when an existing certificate of title on a motor vehicle is unavailable, to deliver the certificate of title with the transferee's application for new title and necessary taxes and fees to the DMV within 20 days of receipt of the title, but no later than 45 days following the sale or transfer of the vehicle. Authorizes the dealer to offer the vehicle for sale subject to prior written notice that the dealer is not in possession of the certificate of title. Specifies circumstances under which the certificate of title is considered unavailable. Authorizes the purchaser to rescind the purchase transaction and collect the full purchase price of the vehicle and liquidated damages (as specified) when the dealer fails to deliver the certificate of title to the DMV. Does not limit other civil remedies or consumer protections.