Bill Summary for S 411 (2017-2018)
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| View NCGA Bill Details | 2017-2018 Session |
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.
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Bill summary
House committee substitute makes the following changes to the 3rd edition.
Amends GS 20-58.4A by deleting the provision that prohibited a lien on a motor vehicle from being noted on the certificate of title or otherwise perfected by the Division of Motor Vehicles unless the electronic lien system is utilized by the lienholder in accordance with the statute.
Amends GS 20-52.1 by providing that no person has a cause of action against the Division or Division contractors arising from the transfer of a vehicle by a sworn certification when the manufacturer's statement of origin or an existing certificate of title on a motor vehicle is unavailable.
Amends GS 20-58 by providing that for a vehicle registered in this state, the application for notation of a security interest must be accompanied by the existing certificate of title unless in the possession of a prior secured party or in the event the manufacturer's statement of origin or existing certificate of title (1) was not delivered to the dealer or (2) was lost or misplaced on the date the dealer sells or transfers the motor vehicle.