HF 2187

2nd Engrossment - 87th Legislature (2011 - 2012) Posted on 03/28/2012 04:57pm

A bill for an act
relating to public safety; vehicle titles; clarifying requirements pertaining to
bonds and issuance of title; amending Minnesota Statutes 2010, sections 168.27,
subdivision 28; 168A.20, subdivision 5.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2010, section 168.27, subdivision 28, is amended to read:

Subd. 28.

Distribution of plates and stickers.

The commissioner may distribute
registration plates and stickers to be held and issued by new and used motor vehicle dealers.
A dealer may issue registration plates and stickers only in conjunction with deleted text begin and at the time
of deleted text end the sale of a vehicle by the dealer. A dealer permitted to hold and issue registration
plates and stickers must be equipped with electronic transmission technology and trained
in its use. Before receiving registration plates and stickers under this subdivision, a dealer
must adopt and implement security and record-keeping requirements satisfactory to the
commissioner. The commissioner may revoke the authority granted under this subdivision
for any violation of law or rule governing the issuance of registration plates and stickers,
any violation of the dealer's security and record-keeping plan, or any other action that
in the commissioner's opinion adversely affects the registration system. The dealer is
financially responsible for the cost and tax value of any unaccounted inventory.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective the day following final enactment.
new text end

Sec. 2.

Minnesota Statutes 2010, section 168A.20, subdivision 5, is amended to read:

Subd. 5.

Satisfaction of automobile lien seven years old; release.

A security
interest perfected under this chapter may be canceled seven years from the perfection
date for a passenger automobile, as defined in section 168.002, subdivision 24, upon the
request of the owner of the passenger automobile, if the owner has paid the lien in full
and is unable to locate the lienholder to obtain a lien release. At a minimum, the owner
must send a letter to the lienholder by certified mail, return receipt requested, requesting a
lien release. If the owner is unable to obtain a lien release by sending a letter by certified
mail, then the owner must present to the department or its agent the returned letter as
evidence of the attempted contact. This subdivision applies only to new text begin (1) new text end vehicle owners
who are individuals new text begin ; or (2) dealers licensed under section 168.27, subdivision 2 or 3, who
are purchasing a vehicle from an individual owner for resale new text end .