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1 1 Section 1. Section 462A.77, subsection 3, Code 1995, is
1 2 amended to read as follows:
1 3 3. a. A person who, on January 1, 1988, is the owner of a
1 4 vessel seventeen feet or longer in length with a valid
1 5 certificate of number issued by the state is not required to
1 6 file an application for a certificate of title for the vessel.
1 7 A person who, on or after January 1, 1988, purchases a vessel
1 8 seventeen feet or longer in length which was registered with a
1 9 valid certificate of number issued by this state before
1 10 January 1, 1988, shall obtain a certificate of title for the
1 11 vessel.
1 12 b. A person who is the owner of a vessel that is
1 13 documented with the United States coast guard is not required
1 14 to file an application for a certificate of title for the
1 15 vessel and the vessel is exempt from the requirements of
1 16 sections 462A.82 and 462A.84.
1 17 Sec. 2. Section 462A.82, Code 1995, is amended by adding
1 18 the following new subsection:
1 19 NEW SUBSECTION. 3. If a vessel is documented with the
1 20 United States coast guard, the owner shall mail or deliver to
1 21 the county recorder proof of the documentation and the owner's
1 22 certificate of title issued pursuant to this chapter is
1 23 canceled upon the delivery. A title tax is not required on
1 24 these transactions.
1 25 EXPLANATION
1 26 This bill exempts a vessel that is documented by the United
1 27 States coast guard from the requirement of being issued a
1 28 certificate of title under chapter 462A. If a documented
1 29 vessel has been issued a certificate of title pursuant to this
1 30 chapter, the certificate of title shall be canceled when the
1 31 owner mails or delivers proof of the United States coast guard
1 32 documentation to the county recorder.
1 33 LSB 4234HV 76
1 34 kah/jj/8
Text: HF02419 Text: HF02421 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
Iowa General Assembly
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