Loading chat...

AR SB749

Bill

Status

Passed

3/28/2017

Primary Sponsor

Bill Sample

Click for details

Origin

Senate

91st General Assembly (2017 Regular)

AI Summary

  • Amends Arkansas Code § 27-14-806(a) to add electronic lien recording as an optional method for lienholders on motor vehicles, all-terrain vehicles, mobile homes, manufactured homes, and implements of husbandry.

  • Allows lienholders to file liens electronically through a database established by the Department of Finance and Administration if the Office of Motor Vehicle determines it is technologically and economically feasible.

  • Preserves existing lien recording methods including recording on the manufacturer's statement of origin, recording on an existing certificate of title, and filing a certified copy of the lien instrument with the Revenue Division.

  • Maintains the current $1.00 filing fee for each lien regardless of the recording method used.

  • Electronic or traditional filing constitutes constructive notice of the lien to creditors, subsequent purchasers, and encumbrances, with photocopy evidence being sufficient proof of recording.

Legislative Description

To Allow A Lienholder To File Electronically A Lien On A Motor Vehicle, An All-terrain Vehicle, A Mobile Home Or Manufactured Home, Or An Implement Of Husbandry In Certain Circumstances.

Last Action

Notification that SB749 is now Act 687

3/28/2017

Committee Referrals

Public Transportation3/9/2017
Transportation, Technology & Legislative Affairs3/6/2017

Full Bill Text

No bill text available