2006 Minnesota Session Laws
language to be deleted (2) new language
CHAPTER 228--S.F.No. 2995
relating to motor vehicles; authorizing certain dealers to retain a charitable interest in certain vehicles; providing for the cancellation of certain automobile liens under certain circumstances; regulating liens for storage charges on certain motor vehicles;
amending Minnesota Statutes 2004, section 514.19; Minnesota Statutes 2005 Supplement, section 168A.20, subdivision 5; proposing coding for new law in Minnesota Statutes, chapter 168A.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Satisfaction of automobile lien seven years old; release.
(a) A security interest perfected under this chapter expires seven years from the perfection date for a passenger automobile, as defined in section 168.011, subdivision 7.
(b) A lien holder may notify the department in writing or in a format approved by the department during the sixth year of the lien, no later than 90 days in advance of the seven-year anniversary, if the lien will not be satisfied during this registration period and the lien must be extended up to seven additional years as requested by the lien holder.
514.19 RIGHT OF DETAINER.
A lien and right of detainer exists for:
(1) transporting property, other than harvested crops or livestock, from one place to another but not as a carrier under article 7 of the Uniform Commercial Code;
(2) keeping or storing property, other than harvested crops or livestock, as a bailee but not as a warehouse operator under article 7 of the Uniform Commercial Code;
(3) the use and storage of molds and patterns in the possession of the fabricator belonging to the customer for the balance due from the customer for fabrication work;
(4) making, altering or repairing any article, other than livestock, or expending any labor, skill or material on it;
(5) reasonable charges for a vehicle rented as a replacement for a vehicle serviced or repaired and being retained as provided by this section.
The liens embrace all lawful charges against the property paid to any other person by the person claiming the lien, and the price or value of the care, storage or contribution and all reasonable disbursements occasioned by the detention or sale of the property.
Presented to the governor May 20, 2006
Signed by the governor May 24, 2006, 12:55 p.m.
Copyright © 2006 by the Revisor of Statutes, State of Minnesota. All rights reserved.