Bill Text: AZ SB1003 | 2020 | Fifty-fourth Legislature 2nd Regular | Introduced

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Bill Title: Auto title loans; clear title

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2020-01-14 - Senate read second time [SB1003 Detail]

Download: Arizona-2020-SB1003-Introduced.html

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PREFILED    NOV 15 2019

REFERENCE TITLE: auto title loans; clear title

 

 

 

 

State of Arizona

Senate

Fifty-fourth Legislature

Second Regular Session

2020

 

 

SB 1003

 

Introduced by

Senator Farnsworth D

 

 

AN ACT

 

amending title 44, chapter 2.1, article 1, Arizona Revised Statutes, by adding section 44‑284; relating to motor vehicle time sales.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Title 44, chapter 2.1, article 1, Arizona Revised Statutes, is amended by adding section 44-284, to read:

START_STATUTE44-284.  Secondary motor vehicle finance transaction; clear title required

A seller, bailor, lender or lessor may not enter into a secondary motor vehicle finance transaction unless the borrower holds a clear title to the motor vehicle that the borrower uses to secure the loan.END_STATUTE