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Duration of perfection - 75 Pa. Cons. Stat. § 1138Legal Research Home > Pennsylvania Statutes Sponsored Links
§ 1138. Duration of perfection.
(a) General rule.--Perfection of a security interest is
effective for a period of 30 years in the case of a mobile home
or emergency vehicle, eight years in the case of a truck tractor
or trailer weighing in excess of 10,000 pounds and six years in
all other cases, in each case dating from the time of perfection
as provided for in this subchapter and subject to renewal as
provided in subsection (b).
(b) Renewal.--The effectiveness of perfection lapses on the
expiration of the periods specified in subsection (a) unless a
renewal form is filed within the six months immediately
preceding expiration. Upon the timely filing of a renewal form,
the effectiveness of perfection continues for a period of three
years, commencing on the date on which perfection would have
lapsed in the absence of the filing. Perfection may be renewed
for as many three-year periods as may be necessary by the holder
of the security interest upon a form furnished by the
department, signed by the secured party and accompanied by the
fee provided in this title.
(c) Corrected certificate when perfection expires.--A
corrected certificate of title without a statement of liens or
encumbrances shall be issued by the department, upon the request
of the owner, when perfection of the security interests recorded
on the certificate of title have expired.
(July 10, 1984, P.L.679, No.146, eff. 60 days; Dec. 21, 1998,
P.L.1126, No.151, eff. 60 days; June 8, 2001, P.L.123, No.18,
eff. July 1, 2001; June 22, 2001, P.L.411, No.33, eff. 120 days)
2001 Amendments. Act 18 amended the entire section and Act
33 amended subsec. (a). Act 33 overlooked the amendment by Act
18, but the amendments do not conflict in substance and have
both been given effect in setting forth the text of subsec. (a).
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Last modified: November 27, 2007 |