Senate Bill 411 Summary

• Removes the July 1, 2016 start date and makes mandatory the electronic lien system for all individuals and lienholders conducting at least five motor vehicle financing transactions annually.

• Allows motor vehicle dealers to transfer titles to vehicles currently titled in North Carolina using sworn certifications when manufacturer's statements of origin or certificates of title are unavailable due to non-delivery or loss/misplacement, with criminal penalties for false filings limited to knowing and intentional violations.

• Establishes a new 60-day deadline for dealers to deliver manufacturer's statements of origin or certificates of title to the Division following a sale or transfer, with vehicle purchasers entitled to liquidated damages of 5% of purchase price (up to $1,000) if the deadline is missed.

• Extends the deadline for delivering temporary registration applications and fees from 10 working days to 20 days, and delays the mandatory use of LD license plates on service loaner vehicles from January 1, 2019 to January 1, 2021.

• Clarifies that vehicle registration taxes and Division fee adjustments apply only to motor vehicle sales or leases made on or after their effective dates, regardless of when title applications are submitted.