SB 763 Prohibits the charging of fee for releasing a lien or encumbrance from a certificate of ownership unless certain conditions are met
Sponsor: Kehoe
LR Number: 5561S.03I Fiscal Note available
Committee: Transportation
Last Action: 2/15/2012 - Hearing Conducted S Transportation Committee Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2012

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Current Bill Summary

SB 763 - Under the terms of this act, no fee may be charged to an owner for the release of any lien or encumbrance. However, the lienholder may assess a fee not to exceed $25 for providing a duplicate release. If the owner requests an expedited release of any lien, the lienholder may assess a fee not to exceed $25 plus actual overnight carrier charges. The fee shall not be charged or it shall be refunded, if charged, if the expedited release is not shipped or sent on the date promised by the lienholder. If a duplicate release is requested to be expedited, then the lienholder may not charge more than a total of $25 for providing an expedited duplicate release, plus the actual overnight carrier charges, if any.