Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 08, 2014 |
referred to transportation |
Mar 01, 2013 |
advanced to third reading cal.70 |
Feb 27, 2013 |
reported |
Feb 12, 2013 |
reported referred to codes |
Jan 28, 2013 |
referred to transportation |
Assembly Bill A3649
2013-2014 Legislative Session
Sponsored By
DENDEKKER
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
co-Sponsors
Michael G. Miller
Thomas Abinanti
David Weprin
multi-Sponsors
James F. Brennan
Earlene Hooper
N. Nick Perry
Andrew Raia
2013-A3649 (ACTIVE) - Details
2013-A3649 (ACTIVE) - Summary
Establishes the "vehicle lienholder accountability act"; requires lienholders to provide notice to the owner of the vehicle when such lienholder assigns his or her security interest and requires such lienholder to execute a release of his or her security interest, within ten days of such assignment.
2013-A3649 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 3649 2013-2014 Regular Sessions I N A S S E M B L Y January 28, 2013 ___________ Introduced by M. of A. DenDEKKER -- read once and referred to the Committee on Transportation AN ACT to amend the vehicle and traffic law, in relation to establishing the "vehicle lienholder accountability act"; to require lienholders to provide notice to the owner of the vehicle when such lienholder assigns his or her security interest THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. This act shall be known and may be cited as the "vehicle lienholder accountability act". S 2. Section 2120 of the vehicle and traffic law, as added by chapter 1134 of the laws of 1971, is amended to read as follows: S 2120. Assignment by lienholder. (a) A lienholder may assign, abso- lutely or otherwise, his OR HER security interest in the vehicle to a person other than the owner without affecting the interest of the owner or the validity of the security interest, [but any] PROVIDED THAT SUCH LIENHOLDER NOTIFIES THE OWNER OF THE VEHICLE OF SUCH ASSIGNMENT, AND EXECUTES A RELEASE OF HIS OR HER SECURITY INTEREST WITHIN TEN DAYS OF SUCH ASSIGNMENT. ANY person without notice of the assignment is protected in dealing with the lienholder as the holder of the security interest and the lienholder remains liable for any obligations as lien- holder until the assignee is named as lienholder on the certificate. (b) The assignee may, but need not to perfect the assignment, have the certificate of title endorsed or issued with the assignee named as lien- holder, upon delivering to the commissioner an assignment by the lien- holder named in the certificate in the form the commissioner prescribes. Upon the request of the assignee the commissioner shall request the owner to deliver to the commissioner the certificate of title. (C) A LIENHOLDER WHO VIOLATES THE PROVISIONS OF THIS SECTION SHALL PAY A CIVIL PENALTY NOT TO EXCEED ONE THOUSAND DOLLARS. S 3. This act shall take effect on the thirtieth day after it shall have become a law. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
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