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AZ SB1003

Bill

Official Source

Status

Introduced

1/13/2020

Primary Sponsor

David Farnsworth

Click for details

Origin

Senate

Fifty-fourth Legislature - Second Regular Session (2020)

AI Summary

  • Amends Arizona Revised Statutes Title 44, Chapter 2.1, Article 1 by adding section 44-284 regarding motor vehicle finance transactions.

  • Prohibits sellers, bailors, lenders, or lessors from entering into secondary motor vehicle finance transactions unless the borrower holds clear title to the motor vehicle used to secure the loan.

  • Applies to secondary motor vehicle finance transactions, which typically include auto title loans and similar secured lending arrangements.

Legislative Description

Auto title loans; clear title

Secondary Motor Vehicle Transactions

Last Action

Senate read second time

1/14/2020

Full Bill Text

No bill text available