SB198 - Title Modernization Act of 2021

• Authorizes the Commissioner of Revenue to waive notarization requirements for vehicle title applications and documents filed electronically with the Department of Revenue.

• Allows the Department of Revenue to collect commissions from applications processed directly by the department (not through designated agents) to defray costs of electronic title processing, with commission amounts equal to those charged to designated agents.

• Permits probate judges and county officials to collect and retain $1.50 commission fees for each title application processed, in addition to existing designated agent commission fees.

• Authorizes the department to accept electronic filings in lieu of paper documents and to establish procedures for electronic title transfers and security interest recording.

• Modifies provisions allowing new certificates of title to be issued to transferees from replacement certificates, permitting immediate issuance if title information can be verified electronically through the National Motor Vehicle Title Information System instead of waiting 15 calendar days.