Text: S03009                            Text: S03011
Text: S03000 - S03099                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Senate Amendment 3010

Amendment Text

PAG LIN
  1  1    Amend Senate File 97 as follows:
  1  2    #1.  Page 5, by striking lines 5 and 6 and
  1  3 inserting the following:
  1  4    "Sec.    .  Section 321.50, subsection 6, Code
  1  5 2003, is amended to read as follows:
  1  6    6.  Any person obtaining possession of a
  1  7 certificate of title for a vehicle not already subject
  1  8 to a perfected security interest, except new or used
  1  9 vehicles held by a dealer or manufacturer as inventory
  1 10 for sale, who purports to have a security interest in
  1 11 such vehicle shall, within thirty three hundred sixty-
  1 12 five days from the receipt of the certificate of
  1 13 title, deliver such certificate of title to the county
  1 14 treasurer of the county where it was issued to note
  1 15 such security interest and, if such person fails to do
  1 16 so, the person's purported security interest in the
  1 17 vehicle shall be void and unenforceable and such
  1 18 person shall forthwith deliver the certificate of
  1 19 title to the county treasurer of the county where it
  1 20 was issued.  If no security interest has been filed
  1 21 for notation on the certificate of title, the
  1 22 certificate shall be mailed by the treasurer to the
  1 23 owner of the vehicle.  For purposes of determining the
  1 24 commencement date of the thirty-day three-hundred-
  1 25 sixty-five-day period provided by this subsection, it
  1 26 shall be presumed that the purported security interest
  1 27 holder received the certificate of title on the date
  1 28 of the creation of the holder's purported security
  1 29 interest in the vehicle or the date of the issuance of
  1 30 the certificate of title, whichever is the latter.
  1 31 Any person collecting a fee from the owner of the
  1 32 vehicle for the purpose of perfecting a security
  1 33 interest in such vehicle who does not cause such
  1 34 security interest to be noted on the certificate of
  1 35 title by the county treasurer shall remit such fee to
  1 36 the department of revenue and finance of this state.
  1 37    This subsection is repealed effective July 1,
  1 38 2004."
  1 39    #2.  Page 12, by inserting after line 1 the
  1 40 following:
  1 41    "3.  The sections of this Act amending section
  1 42 321.24, subsection 3, section 321.45, subsection 2,
  1 43 paragraph "a", and section 321.50, subsections 1, 2,
  1 44 and 3, take effect July 1, 2005."
  1 45    #3.  By renumbering as necessary.  
  1 46 
  1 47 
  1 48                               
  1 49 RICHARD F. DRAKE
  1 50 STEVEN H. WARNSTADT 
  2  1 JOHN PUTNEY
  2  2 SF 97.301 80
  2  3 dea/cf
     

Text: S03009                            Text: S03011
Text: S03000 - S03099                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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