MI SB0917

Authorizes the Michigan Secretary of State to require all vehicle title lien and security interest transactions to be conducted by electronic means at the department's discretion.

Permits the department to issue paper copies of vehicle titles only after all liens have been terminated or for purposes of retitling in another state or other appropriate reasons.

Allows a secured receipt form approved by the department to be submitted in lieu of the title when a security interest is paid in satisfaction, for purposes of transferring vehicle ownership.

Requires vehicle sale transactions with electronically-entered security interests to include a document recording the electronic entry and information about the financial institution holding the security interest.

Takes effect only if both Senate Bill 916 and Senate Bill 918 of the 97th Legislature are enacted into law; effective 91 days after final adjournment of the 2014 Regular Session.