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Text: SSB02181                          Text: SSB02183
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Senate Study Bill 2182

Conference Committee Text

PAG LIN
  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 4234SC 76
  1 34 tj/jj/8
     

Text: SSB02181                          Text: SSB02183
Text: SSB02100 - SSB02199               Text: SSB Index
Bills and Amendments: General Index     Bill History: General Index

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