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(link is external)
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Thu, 14 Apr 2011 Senate: Passed 1st Reading(link is external)
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Thu, 14 Apr 2011 Senate: Ref To Com On Finance(link is external)
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Mon, 2 May 2011 Senate: Withdrawn From Com(link is external)
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Mon, 2 May 2011 Senate: Re-ref Com On Transportation(link is external)
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Wed, 18 May 2011 Senate: Reptd Fav(link is external)
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Thu, 19 May 2011 Senate: Passed 2nd & 3rd Reading(link is external)
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Tue, 24 May 2011 House: Passed 1st Reading(link is external)
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Tue, 24 May 2011 House: Ref To Com On Finance(link is external)
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Mon, 6 Jun 2011 House: Withdrawn From Com(link is external)
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Mon, 6 Jun 2011 House: Re-ref Com On Transportation(link is external)
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Tue, 14 Jun 2011 House: Reptd Fav(link is external)
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Tue, 14 Jun 2011 House: Cal Pursuant Rule 36(b)(link is external)
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Tue, 14 Jun 2011 House: Placed On Cal For 6/14/2011(link is external)
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Wed, 15 Jun 2011 House: Passed 2nd Reading(link is external)
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Thu, 16 Jun 2011 House: Passed 3rd Reading(link is external)
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Fri, 17 Jun 2011 Ratified(link is external)
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Mon, 20 Jun 2011 Pres. To Gov. 6/20/2011(link is external)
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Mon, 27 Jun 2011 Signed By Gov. 6/27/2011(link is external)
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Mon, 27 Jun 2011 Ch. SL 2011-318(link is external)
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