Satisfaction or discharge of lien; delivery of certificate of title
Sec. 1. A person having possession of a certificate of title for a
motor vehicle, semitrailer, or recreational vehicle because the person
has a lien or an encumbrance on the motor vehicle, semitrailer, or
recreational vehicle must deliver not more than ten (10) business
days after receipt of the payment the satisfaction or discharge of the
lien or encumbrance indicated upon the certificate of title to the
person who:
(1) is listed on the certificate of title as owner of the motor
vehicle, semitrailer, or recreational vehicle; or
(2) is acting as an agent of the owner and who holds power of
attorney for the owner of the motor vehicle, semitrailer, or
recreational vehicle.
As added by P.L.2-1991, SEC.5. Amended by P.L.268-2003, SEC.16.
Last modified: May 27, 2006