Bill Text: AZ SB1261 | 2011 | Fiftieth Legislature 1st Regular | Engrossed
Bill Title: Vehicle liens; titles
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2011-04-13 - Governor Signed [SB1261 Detail]
Download: Arizona-2011-SB1261-Engrossed.html
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Senate Engrossed |
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State of Arizona Senate Fiftieth Legislature First Regular Session 2011
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SENATE BILL 1261 |
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AN ACT
amending section 28‑2133, Arizona Revised Statutes; relating to vehicle liens and encumbrances.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Section 28-2133, Arizona Revised Statutes, is amended to read:
28-2133. Index and filing of liens, encumbrances or instruments; constructive notice
A. The department shall maintain an appropriate index of all liens, encumbrances or title retention instruments filed as provided by this article.
B. The filing and issuance of a new certificate of title as provided in this article is constructive notice to creditors of the owner or to subsequent purchasers of all liens and encumbrances against the vehicle described in the certificate of title, except those that are authorized by law and that are dependent on possession. If the documents referred to in this article are received and filed in a registering office of the department within thirty business days after the date of their execution, the constructive notice dates from the time of execution. Otherwise, the notice dates from the time of receipt and filing of the documents by the department as shown by its endorsement.
C. The method provided in subsection B of this section for giving constructive notice of a lien or encumbrance on a vehicle required to be titled and registered under section 28‑2153 or a mobile home required to be titled under section 28‑2063 is exclusive, except for liens dependent on possession. A lien, encumbrance or title retention instrument or document that evidences any of them and that is filed as provided by this article is exempt from the provisions of law that otherwise require or relate to the recording or filing of instruments creating or evidencing title retention or other liens or encumbrances on vehicles of a type subject to registration under this chapter.
D. Notwithstanding any other law, the failure of a motor vehicle dealer as defined in section 28‑4301, a finance company or the department to complete the paperwork within thirty business days as prescribed in subsection B of this section shall not result in the loss of the vehicle for either the lienholder or the person who purchased the vehicle.
Sec. 2. Retroactivity
Section 28‑2133, Arizona Revised Statutes, as amended by this act, applies retroactively to from and after December 31, 2010.
Sec. 3. Emergency
This act is an emergency measure that is necessary to preserve the public peace, health or safety and is operative immediately as provided by law.
