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Assembly Bill A1346

Signed By Governor

2011-2012 Legislative Session

Authorizes the commissioner of motor vehicles to issue a certificate of title free of liens upon submission of proof by dealer of payment of debt on a vehicle

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Archive: Last Bill Status - Signed by Governor

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Bill Amendments

2011-A1346 - Details

See Senate Version of this Bill:
S5132
Law Section:
Vehicle and Traffic Law
Laws Affected:
Amd §2121, V & T L
Versions Introduced in 2009-2010 Legislative Session:
A2622

2011-A1346 - 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.

2011-A1346 - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  1346

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

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

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

2011-A1346A - Details

See Senate Version of this Bill:
S5132
Law Section:
Vehicle and Traffic Law
Laws Affected:
Amd §2121, V & T L
Versions Introduced in 2009-2010 Legislative Session:
A2622

2011-A1346A - 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.

2011-A1346A - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 1346--A

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by M. of A. GANTT -- read once and referred to the Committee
  on Transportation  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee

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 AND SHALL  PROVIDE
NOTICE  TO  THE  LIENHOLDER THAT SUCH EVIDENCE HAS BEEN SUBMITTED TO THE
COMMISSIONER. 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 DELIV-
ERED. SUCH EVIDENCE SHALL BE ACCEPTED BY THE COMMISSIONER AS SUFFICIENT.
ANY  EVIDENCE SUBMITTED TO THE COMMISSIONER PURSUANT TO THIS SUBDIVISION
MAY BE SUBMITTED IN ELECTRONIC FORM.    IN  ADDITION  TO  THE  PENALTIES

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

co-Sponsors

2011-A1346B - Details

See Senate Version of this Bill:
S5132
Law Section:
Vehicle and Traffic Law
Laws Affected:
Amd §2121, V & T L
Versions Introduced in 2009-2010 Legislative Session:
A2622

2011-A1346B - 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.

2011-A1346B - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 1346--B

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by M. of A. GANTT -- read once and referred to the Committee
  on Transportation  --  committee  discharged,  bill  amended,  ordered
  reprinted as amended and recommitted to said committee -- reported and
  referred to the Committee on Codes -- again reported from said commit-
  tee  with  amendments, ordered reprinted as amended and recommitted to
  said committee

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 AND SHALL PROVIDE
NOTICE TO THE LIENHOLDER CONCURRENT WITH OR PRIOR TO SUBMISSION  TO  THE
COMMISSIONER.  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 INTERBANK OR  ELEC-
TRONIC  TRANSFER OF FUNDS HAS BEEN MADE; OR (II) EVIDENCE THAT A COPY OF
A CASHIER'S OR BANK CHECK HAS BEEN DELIVERED; AND  (III)  EVIDENCE  THAT
THE  AMOUNT DELIVERED TO THE LIENHOLDER IS EQUAL TO THE AMOUNT WHICH HAS

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

co-Sponsors

2011-A1346C (ACTIVE) - Details

See Senate Version of this Bill:
S5132
Law Section:
Vehicle and Traffic Law
Laws Affected:
Amd §2121, V & T L
Versions Introduced in 2009-2010 Legislative Session:
A2622

2011-A1346C (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.

2011-A1346C (ACTIVE) - Bill Text download pdf 

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 1346--C

                       2011-2012 Regular Sessions

                          I N  A S S E M B L Y

                               (PREFILED)

                             January 5, 2011
                               ___________

Introduced  by  M.  of  A.  GANTT,  ESPINAL,  BRINDISI  -- read once and
  referred to the Committee on Transportation --  committee  discharged,
  bill  amended,  ordered  reprinted  as amended and recommitted to said
  committee -- reported and referred to the Committee on Codes --  again
  reported  from  said  committee  with amendments, ordered reprinted as
  amended and recommitted  to  said  committee  --  recommitted  to  the
  Committee on Transportation in accordance with Assembly Rule 3, sec. 2
  --  reported  and  referred  to  the  Committee  on Codes -- committee
  discharged, bill amended, ordered reprinted as amended and recommitted
  to said committee

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 AND SHALL PROVIDE
NOTICE TO THE LIENHOLDER TWO WEEKS PRIOR TO SUBMISSION  TO  THE  COMMIS-
SIONER.  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:  (I)

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

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