SB490 Alabama 2012 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2012
Title
Motor vehicles, security interests, older model vehicles, time before considered satisfied reduced, Sec. 32-8-64.2 am'd
Description
<p class="bill_description"> Existing law provides that a security
agreement on a motor vehicle that is 12 model years
old or older is considered satisfied after five
years from the date of the security agreement</p><p class="bill_description">
This bill would reduce the period of time in
which the security agreement on a motor vehicle
that is 12 or more model years old is considered
satisfied to three years</p><p class="bill_entitled_an_act"> To amend Section 32-8-64.2, Code of Alabama 1975, as
last amended by Act 2011-633, 2011 Regular Session (Acts 2011,
p. 1507), to provide for the release of certain liens after
three years on vehicles which are 12 or more model years old.
</p>
Subjects
Motor Vehicles
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| May 9, 2012 | Indefinitely Postponed | |
| April 12, 2012 | Read for the second time and placed on the calendar | |
| April 10, 2012 | Read for the first time and referred to the Senate committee on Commerce, Transportation, and Utilities |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | SB490 Alabama 2012 Session - Introduced |