SB211 Summary

• Adopts the Uniform Certificate of Title for Vessels Act, requiring Alabama vessel owners to obtain certificates of title through the Alabama Department of Revenue (referred to as "the office").

• Establishes a certificate of title system for vessels where Alabama is the state of principal use, with specific requirements for application contents including hull identification numbers, vessel descriptions, and security interests.

• Creates procedures for perfecting security interests in vessels through delivery of applications to the office, replacing previous perfection methods and establishing priority rules for competing security interests.

• Implements title brands for hull-damaged vessels and requires insurers and owners to disclose damage when transferring ownership, with penalties of $1,000 for non-compliance.

• Sets a $20 fee for most certificate transactions and establishes January 1, 2024 as the effective date, with transition rules for vessels constructed before that date.