Text: HF02459 Text: HF02461 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 462A.5, subsection 1, unnumbered
1 2 paragraph 2, Code Supplement 2001, amended to read as follows:
1 3 The owner of the vessel shall file an application for
1 4 registration with the appropriate county recorder on forms
1 5 provided by the commission. The application shall be
1 6 completed and signed by the owner of the vessel and shall be
1 7 accompanied by the appropriate fee, and the writing fee
1 8 specified in section 462A.53. Upon applying for registration,
1 9 the owner shall display a bill of sale, receipt, or other
1 10 satisfactory proof of ownership as provided by the rules of
1 11 the commission to the county recorder. If the county recorder
1 12 is not satisfied as to the ownership of the vessel or that
1 13 there are no undisclosed security interests in the vessel, the
1 14 county recorder may register the vessel but shall, as a
1 15 condition of issuing a registration certificate, require the
1 16 applicant to follow the procedure provided in section 462A.5A.
1 17 Upon receipt of the application in approved form accompanied
1 18 by the required fees, the county recorder shall enter it upon
1 19 the records of the recorder's office and shall issue to the
1 20 applicant a pocket-size registration certificate. The
1 21 certificate shall be executed in triplicate, one copy to be
1 22 delivered to the owner, one copy to the commission, and one
1 23 copy to be retained on file by the county recorder. The
1 24 registration certificate shall bear the number awarded to the
1 25 vessel, the passenger capacity of the vessel, and the name and
1 26 address of the owner. In the use of all vessels except
1 27 nonpowered sailboats, nonpowered canoes, and commercial
1 28 vessels, the registration certificate shall be carried either
1 29 in the vessel or on the person of the operator of the vessel
1 30 when in use. In the use of nonpowered sailboats, nonpowered
1 31 canoes, or commercial vessels, the registration certificate
1 32 may be kept on shore in accordance with rules adopted by the
1 33 commission. The operator shall exhibit the certificate to a
1 34 peace officer upon request or, when involved in a collision or
1 35 accident of any nature with another vessel or other personal
2 1 property, to the owner or operator of the other vessel or
2 2 personal property.
2 3 Sec. 2. NEW SECTION. 462A.5A FILING BOND AS ASSURANCE OF
2 4 OWNERSHIP.
2 5 An applicant for registration of a vessel for which the
2 6 county recorder is not satisfied as to the ownership of the
2 7 vessel as provided in section 462A.5, subsection 1, shall file
2 8 with the county recorder a bond in the form prescribed by the
2 9 department and executed by the applicant, and also executed by
2 10 a person authorized to conduct a surety business in this
2 11 state. The form and amount of the bond shall be established
2 12 by rule of the department. The bond shall be conditioned to
2 13 indemnify any prior owner and secured party and any subsequent
2 14 purchaser of the vessel or person acquiring any security
2 15 interest in the vessel, and their respective successors in
2 16 interest, against any expense, loss, or damage, including
2 17 reasonable attorney fees, by reason of the issuance of the
2 18 registration certificate of the vessel or on account of any
2 19 defect in or undisclosed security interest upon the right,
2 20 title, and interest of the applicant in and to the vessel.
2 21 Any such interested person has a right of action to recover on
2 22 the bond for any breach of its conditions, but the aggregate
2 23 liability of the surety to all persons shall not exceed the
2 24 amount of the bond. The bond shall be returned at the end of
2 25 three years or prior thereto if the vessel is no longer
2 26 registered in this state and the registration certificate is
2 27 surrendered to the department, unless the department has been
2 28 notified of the pendency of an action to recover on the bond.
2 29 In lieu of filing the bond as provided in this section, an
2 30 applicant for registration of a vessel which has a value of
2 31 seven hundred fifty dollars or less may file an affidavit with
2 32 the county recorder certifying that the value of the vessel is
2 33 less than seven hundred fifty dollars. For purposes of this
2 34 paragraph, the value of a vessel is the purchase price of the
2 35 vessel paid by the applicant.
3 1 EXPLANATION
3 2 This bill adapts a method established for issuing
3 3 certificates of title for motor vehicles for which the issuing
3 4 authority is not satisfied as to the ownership of the vehicle
3 5 or that there are no undisclosed security interests in it to
3 6 issuance of registration for watercraft, with similarly
3 7 questioned ownership. The bill provides that the county
3 8 recorder may issue a registration certificate for such a
3 9 watercraft, if the applicant files a bond with the county
3 10 recorder.
3 11 The bill provides that the bond shall be executed by a
3 12 person authorized to conduct a surety business and shall be in
3 13 an amount determined by the department by rule. The bond
3 14 shall protect prior owners, secured parties, and subsequent
3 15 owners of the watercraft. The bond is to be returned at the
3 16 end of three years, or before if the watercraft is no longer
3 17 registered in this state and the certificate of title or
3 18 registration certificate is surrendered to the department,
3 19 unless the department has been notified of the pendency of an
3 20 action to recover on the bond.
3 21 In lieu of filing a bond, an applicant for registration of
3 22 a vessel which has a value of $750 or less, may file an
3 23 affidavit with the county recorder certifying the value of the
3 24 vessel is less than $750.
3 25 LSB 5203HV 79
3 26 nh/sh/8
Text: HF02459 Text: HF02461 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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