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AR SB749
Bill
Status
3/28/2017
Primary Sponsor
Bill Sample
Click for details
AI Summary
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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.
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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.
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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.
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Maintains the current $1.00 filing fee for each lien regardless of the recording method used.
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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