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MO SB291

Bill

Official Source

Status

Introduced

1/21/2015

Primary Sponsor

Mike Cunningham

Click for details

Origin

Senate

2015 Regular Session

AI Summary

  • Director of Revenue may adopt rules authorizing lienholders to electronically release liens on property titled with the department, but only liens filed electronically may be released electronically
  • Lienholders must release motor vehicle/trailer liens within 5 business days of satisfaction; watercraft and manufactured home liens must be released within 10 days
  • Liquidated damages for late lien releases on motor vehicles range from $500 (5+ business days late) to $2,500 (20+ business days late)
  • Knowingly and intentionally releasing another person's lien without authority constitutes a class C or D felony depending on property type
  • Rules adopted under this authority must comply with Chapter 536 administrative procedures and would be void if adopted after August 28, 2015, should rulemaking powers be held unconstitutional

Legislative Description

Allows the Director of Revenue to establish rules and regulations to allow lienholders who have filed a lien electronically to release the lien by electronic means

Last Action

Second Read and Referred S Transportation, Infrastructure and Public Safety Committee

2/12/2015

Committee Referrals

Transportation, Infrastructure and Public Safety2/12/2015

Full Bill Text

No bill text available