HB306 Alabama 2013 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2013
Title
Motor vehicles, liens, release of after four years for specified older vehicles, Sec. 32-8-64.2 am'd
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.
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.
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.
Subjects
Motor Vehicles
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| February 19, 2013 | H | Read for the first time and referred to the House of Representatives committee on Commerce and Small Business |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB306 Alabama 2013 Session - Introduced |
Source: Alabama Legislature