Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 06, 2010 |
referred to transportation |
Jan 21, 2009 |
referred to transportation |
Assembly Bill A2622
2009-2010 Legislative Session
Sponsored By
GANTT
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
2009-A2622 (ACTIVE) - Details
- Current Committee:
- Assembly Transportation
- Law Section:
- Vehicle and Traffic Law
- Laws Affected:
- Amd §2121, V & T L
- Versions Introduced in 2011-2012 Legislative Session:
-
A1346
2009-A2622 (ACTIVE) - Summary
Authorizes a motor vehicle dealer who receives a vehicle for resale and satisfies any security interest in such vehicle, but has not received a release of security interest for such vehicle, to apply to the commissioner of motor vehicles for a certificate of title free of liens upon submission of proof that the security interest in the vehicle has been satisfied.
2009-A2622 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 2622 2009-2010 Regular Sessions I N A S S E M B L Y January 21, 2009 ___________ Introduced by M. of A. GANTT -- read once and referred to the Committee on Transportation AN ACT to amend the vehicle and traffic law, in relation to satisfaction of a security interest in a motor vehicle by a dealer THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The opening paragraph of section 2121 of the vehicle and traffic law is designated subdivision (a) and a new subdivision (b) is added to read as follows: (B) A DEALER WHO RECEIVES A MOTOR VEHICLE FOR THE PURPOSES OF RESALE AND WHO ARRANGES FOR THE SATISFACTION OF ANY SECURITY INTEREST IN SUCH VEHICLE, AND FOR WHICH A RELEASE OF SECURITY INTEREST HAS NOT BEEN ISSUED, MAY SUBMIT TO THE COMMISSIONER SUFFICIENT EVIDENCE TO DEMON- STRATE THAT SUCH SECURITY INTEREST HAS BEEN SATISFIED. THE COMMISSIONER SHALL, UPON RECEIPT OF SUCH EVIDENCE, A PROPER APPLICATION AND THE APPROPRIATE FEE PURSUANT TO SECTION TWENTY-ONE HUNDRED TWENTY-FIVE OF THIS ARTICLE, PROMPTLY ISSUE, WITHIN NO MORE THAN FIFTEEN BUSINESS DAYS OF RECEIPT BY THE DEPARTMENT OF ALL REQUIRED INFORMATION AND FEES, EITHER A DUPLICATE CERTIFICATE WITHOUT SUCH LIEN INCLUDED THEREON, OR A CERTIFICATE WITHOUT SUCH LIEN INCLUDED THEREON. EVIDENCE THAT A SECURITY INTEREST HAS BEEN SATISFIED SHALL INCLUDE, BUT NOT BE LIMITED TO: (I) EVIDENCE THAT AN INTRABANK TRANSFER OF FUNDS HAS BEEN MADE; (II) EVIDENCE THAT A COPY OF A CERTIFIED CHECK HAS BEEN DELIVERED; OR (III) EVIDENCE THAT AN UNCERTIFIED CHECK OR DRAFT ISSUED BY A DEALER LICENSED TO DO BUSINESS IN THIS STATE HAS BEEN DELIVERED. SUCH EVIDENCE SHALL BE ACCEPTED BY THE COMMISSIONER AS SUFFICIENT. ANY EVIDENCE SUBMITTED TO THE COMMISSIONER PURSUANT TO THIS SUBDIVISION MAY BE SUBMITTED IN ELEC- TRONIC FORM. IN ADDITION TO THE PENALTIES IMPOSED BY SECTION TWENTY-ONE HUNDRED THIRTY OF THIS ARTICLE, ANY DEALER WHO ALTERS OR FORGES EVIDENCE OF PAYMENT SHALL BE LIABLE TO ANY PARTY FOR ANY DAMAGES RESULTING FROM THE ISSUANCE OF A NEW CERTIFICATE BY THE COMMISSIONER, PLUS ATTORNEY'S EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD06011-01-9
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