AN ACT TO CLARIFY THAT A SECURITY INTEREST IN A TITLE SHALL BE RELEASED AFTER SATISFACTION AND TO RESTRICT FRANCHISED MOTOR VEHICLE DEALERS PLATES TO AN OFFICER, SALES REPRESENTATIVE, OR OTHER EMPLOYEE OF A FRANCHISED MOTOR VEHICLE DEALER OR AN IMMEDIATE FAMILY MEMBER OF AN OFFICER, SALES REPRESENTATIVE, OR OTHER EMPLOYEE OF A FRANCHISED MOTOR VEHICLE DEALER. Summarized in Daily Bulletin 4/12/11. Enacted June 27, 2011. Effective August 1, 2011.
CLARIFY MOTOR VEHICLE LAWS.
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TO CLARIFY THAT A SECURITY INTEREST IN A TITLE SHALL BE RELEASED AFTER SATISFACTION AND TO RESTRICT FRANCHISED MOTOR VEHICLE DEALERS PLATES TO AN OFFICER, SALES REPRESENTATIVE, OR OTHER EMPLOYEE OF A FRANCHISED MOTOR VEHICLE DEALER OR AN IMMEDIATE FAMILY MEMBER OF AN OFFICER, SALES REPRESENTATIVE, OR OTHER EMPLOYEE OF A FRANCHISED MOTOR VEHICLE DEALER.Intro. by Apodaca.
Status: Ch. SL 2011-318 (Senate Action) (Jun 27 2011)
Bill History:
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Tue, 12 Apr 2011 Senate: Filed
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Thu, 14 Apr 2011 Senate: Passed 1st Reading
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Thu, 14 Apr 2011 Senate: Ref To Com On Finance
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Mon, 2 May 2011 Senate: Withdrawn From Com
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Mon, 2 May 2011 Senate: Re-ref Com On Transportation
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Wed, 18 May 2011 Senate: Reptd Fav
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Thu, 19 May 2011 Senate: Passed 2nd & 3rd Reading
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Tue, 24 May 2011 House: Passed 1st Reading
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Tue, 24 May 2011 House: Ref To Com On Finance
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Mon, 6 Jun 2011 House: Withdrawn From Com
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Mon, 6 Jun 2011 House: Re-ref Com On Transportation
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Tue, 14 Jun 2011 House: Reptd Fav
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Tue, 14 Jun 2011 House: Cal Pursuant Rule 36(b)
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Tue, 14 Jun 2011 House: Placed On Cal For 6/14/2011
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Wed, 15 Jun 2011 House: Passed 2nd Reading
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Thu, 16 Jun 2011 House: Passed 3rd Reading
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Fri, 17 Jun 2011 Ratified
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Mon, 20 Jun 2011 Pres. To Gov. 6/20/2011
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Mon, 27 Jun 2011 Signed By Gov. 6/27/2011
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Mon, 27 Jun 2011 Ch. SL 2011-318
S 581/S.L. 2011-318
Bill Summaries:
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Bill S 581 (2011-2012)Summary date: Jun 30 2011 - View Summary
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Bill S 581 (2011-2012)Summary date: Apr 12 2011 - View Summary
Amends GS 20-58.4 to clarify that, upon satisfaction or other discharge of a security interest in a vehicle for which the certificate of title is in the possession of the secured party, the secured party must, within the earlier of 10 days after demand or 30 days after satisfaction, release the security interest as specified. Amends GS 20-79(d)(5) to provide that a dealer license plate may be displayed only on a motor vehicle that, among other requirements, is driven by an officer, sales representative, or employee of a franchised motor vehicle dealer, or the immediate family member of one of those parties. Applies to offenses committed and security interests satisfied on or after August 1, 2011.
View: All Summaries for Bill