OH HB372

Requires secured parties to convey a physical certificate of title to owners within seven business days after receiving good funds to fully discharge security interests on watercrafts, outboard motors, motor vehicles, off-highway motorcycles, and all-purpose vehicles.

Establishes late fees of $10 per day (up to 20 days) and $25 per day thereafter if secured parties fail to convey certificates or required documents within the seven-business-day deadline.

Allows secured parties to present evidence of security interests and notify clerks of discharge electronically, with clerks required to enter information into the automated title processing system.

Permits secured parties unable to provide physical certificates within seven business days to instead provide affidavits of discharge and payment for duplicate certificates.

Changes existing law to make conveyance of physical certificates mandatory rather than optional, applying to all cases regardless of whether a physical certificate of title was previously issued.