(a) The Commissioner of Motor Vehicles is authorized to permit lienholders and motor vehicle dealers to make applications for registration and certificates of title and to furnish them to the Office of Motor Vehicle on behalf of the purchaser of a new or used motor vehicle.
(b) The commissioner shall promulgate reasonable rules and regulations to be complied with by motor vehicle dealers and lienholders in making application for registration and certificates of title on behalf of purchasers of new or used motor vehicles and may, if he or she deems it necessary, require the dealer or lienholder to post bond to ensure faithful compliance with the rules and regulations.
(c) (1) Any motor vehicle dealer or lienholder who has been authorized by the commissioner to prepare applications for registration and certificates of title with respect to new or used motor vehicles shall transmit them to the commissioner and shall attach thereto a copy of any conditional sales contract, conditional lease, chattel mortgage, or other lien or encumbrance or title retention instrument upon the motor vehicle.
(2) Upon receipt thereof, the commissioner shall file a lien and encumbrance, as provided in § 27-14-801 et seq., which shall, from the date of filing, be notice of the lien or encumbrance.
(d) On issuing the registration and certificate of title, the commissioner shall mail the registration to the owner and the title to the lienholder, or to the owner if no lien exists.
(e) If the failure of a motor vehicle dealer or other lienholder to comply with the provisions of § 27-14-802 or § 27-14-806 results in the motor vehicle dealer or lienholder holding an unperfected security interest in the motor vehicle, no action shall lie against the Department of Finance and Administration for any damages resulting from the failure to perfect a security interest.
Section: Previous 27-14-902 27-14-903 27-14-904 27-14-906 27-14-907 27-14-908 27-14-909 27-14-910 27-14-911 27-14-912 27-14-913 27-14-914 27-14-915 27-14-916 NextLast modified: November 15, 2016