LRB-1389/1
PEN:kmg:jf
1997 - 1998 LEGISLATURE
March 20, 1997 - Introduced by Senators Drzewiecki and Cowles, cosponsored by
Representatives Hahn, Gard, Albers, Otte, Freese, Goetsch, Porter,
Kaufert, Kelso, Gronemus and Grothman. Referred to Committee on Labor,
Transportation and Financial Institutions.
SB133,1,2
1An Act to amend 342.22 (3) (c) of the statutes;
relating to: records maintained
2by the department of transportation of security interests in certain vehicles.
Analysis by the Legislative Reference Bureau
Under current law, the owner of any vehicle who creates a security interest in
the vehicle must notify the department of transportation (DOT) of the security
interest. Upon receiving such notice, DOT must issue to the owner a new certificate
of title containing the name and address of the new secured party. DOT may remove
from its computerized records information pertaining to a security interest in a
vehicle, except a mobile home or truck tractor, after 6 years. Removal of such
information does not affect the security agreement existing between the owner and
the secured party.
This bill allows DOT to remove from its computerized records information
pertaining to a security interest in a vehicle, except a mobile home or a truck tractor,
after 10 years, rather than 6 years, since first receiving notice of the security interest.
For further information see the state fiscal estimate, which will be printed as
an appendix to this bill.
The people of the state of Wisconsin, represented in senate and assembly, do
enact as follows:
SB133, s. 1
3Section
1. 342.22 (3) (c) of the statutes is amended to read:
SB133,2,1
1342.22
(3) (c) For any other vehicle,
6 10 years.
