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NE LB490
Bill
AI Summary
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Expands certificate of title eligibility beginning January 1, 2026 to include self-propelled agricultural equipment (fertilizer/chemical applicators, floater-spreaders, implements of husbandry for tilling, harvesting, or feeding livestock) and power unit hay grinders
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Creates new Section 6 establishing rules for security interests in agricultural devices that obtain certificates of title, allowing liens perfected under the Uniform Commercial Code to continue and maintain their original priority date when noted on the new title
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Requires certificate of title holders for covered agricultural devices to surrender titles upon request to allow previously perfected security interest holders to note their liens
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Permits security interest holders to obtain a certificate of title in the owner's name and note their lien if an owner fails or refuses to obtain title after January 1, 2026
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Amends sections 60-101, 60-137, 60-152, 60-164, and 60-166 to integrate the new agricultural equipment titling provisions into existing motor vehicle title and lien procedures
Legislative Description
Change provisions of the Motor Vehicle Certificate of Title Act
Last Action
Approved by Governor on May 30, 2025
6/2/2025