306.405. Certificates of title, delivery of, how, to whom--lienholder may elect to have revenue retain electronic title.
Certificates of title, delivery of, how, to whom--lienholder mayelect to have revenue retain electronic title.
306.405. 1. All certificates of title of an outboard motor,motorboat, vessel, or watercraft issued by the director of revenue shall bemailed to the owner named therein. If the certificate of ownership isbeing held electronically by the director of revenue at the election of alienholder, then confirmation of such ownership shall be electronicallytransmitted or mailed to the first lienholder named in such certificate.
2. A lienholder may elect to have the director of revenue retainpossession of an electronic certificate of title and the director shallissue regulations to govern the procedure for making such an election.Each such certificate of title shall require a separate election unless thedirector provides otherwise by regulation. A subordinate lienholder shallbe bound by the election of the superior lienholder with respect to thecertificate involved.
3. "Electronic certificate of title" means any electronic record ofownership, including liens that may be recorded.
(L. 1985 H.B. 280, et al. § 301.705, A.L. 1999 S.B. 19, A.L. 2002 H.B. 2008 merged with S.B. 895)Effective 8-28-02 (H.B. 2008)
7-01-03 (S.B. 895)