SB 266 - Uniform Certificate of Title for Vessels Act

• Adopts the Uniform Certificate of Title for Vessels Act, allowing vessel owners to voluntarily obtain certificates of title issued by the Alabama State Law Enforcement Agency.

• Establishes application procedures for certificate of title, with owners required to submit detailed vessel information including hull identification number, vessel description, and details of any security interests within 20 days of ownership transfer or change to Alabama as state of principal use.

• Provides procedures for perfecting security interests in vessels through delivery of an application for a certificate of title to the office, with the security interest perfected upon delivery or attachment, whichever is later.

• Specifies requirements for title branding of hull-damaged vessels, transfer of ownership, termination of security interests, and maintenance of vessel records by the Alabama State Law Enforcement Agency for at least 10 years.

• Takes effect January 1, 2017, and applies to vessels for which Alabama is the state of principal use on or after that date, with owners able to voluntarily elect to apply the act to previously untitled vessels.