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 Bill Status of SB2470  100th General Assembly


Short Description:  VEH CD-TITLE REAFFIRMATION

Senate Sponsors
Sen. Cristina Castro

Hearings
Transportation Hearing Feb 27 2018 4:45PM Capitol 212 Springfield, IL


Last Action
DateChamber Action
  2/7/2018SenateAssigned to Transportation

Statutes Amended In Order of Appearance
625 ILCS 5/3-104from Ch. 95 1/2, par. 3-104
625 ILCS 5/3-107from Ch. 95 1/2, par. 3-107
625 ILCS 5/3-203from Ch. 95 1/2, par. 3-203
625 ILCS 5/3-821from Ch. 95 1/2, par. 3-821


Synopsis As Introduced
Amends the Illinois Vehicle Code. Provides that no expedited application shall be accepted or processed for a corrected or duplicate certificate of title that seeks to remove a lienholder unless the applicant surrenders the last issued certificate of title with a completed lien release on the certificate of title. Provides that an expiration date of December 31 of the year in which the lien is satisfied shall be included on each certificate of title. Provides that if a recorded lienholder does not reaffirm a lien and does not respond to a request to verify a lien release letter within 7 calendar days of receipt, the Secretary of State shall process an application for corrected title for the owner of a motor vehicle. Provides that upon extending or refinancing a loan against a passenger motor vehicle of the first division or a motor vehicle of the second division weighing no more than 12,000 pounds, the Secretary may issue a dealer lien release and affirmation of loan certificate of title to a financial institution, or to a lienholder registered in this State that is listed on the certificate of title, that submits an application for title. Effective January 1, 2019.

Actions 
DateChamber Action
  1/30/2018SenateFiled with Secretary by Sen. Cristina Castro
  1/30/2018SenateFirst Reading
  1/30/2018SenateReferred to Assignments
  2/7/2018SenateAssigned to Transportation

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