Plain English Breakdown
The official source does not specify all individuals affected by the bill, only mentioning registered and legal owners.
Vehicle Lien Sales: DMV Notice Requirements
This law requires the Department of Motor Vehicles (DMV) to notify certain individuals within two weeks about leftover funds from a vehicle lien sale and how to claim them.
What This Bill Does
- Requires the DMV to send notice within 14 days after receiving any balance from a vehicle lien sale.
- Specifies that the notice must inform individuals of the process to file a claim for any portion of the funds forwarded to the DMV.
Who It Names or Affects
- The Department of Motor Vehicles (DMV)
- Registered and legal owners of vehicles involved in lien sales
Terms To Know
- lien sale
- A sale of a vehicle to pay off money owed, like a loan or debt.
- Department of Motor Vehicles (DMV)
- The government agency that handles vehicle registration and driver's licenses.
Limits and Unknowns
- Does not specify what happens if the DMV fails to send the required notice.
- Does not provide details on how notices are delivered or what information they contain.