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§ 7712.12. Assignment by secured party of security interest

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 75 Pa.C.S.A. VehiclesEffective: October 23, 2001

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 75 Pa.C.S.A. Vehicles (Refs & Annos)
Part VI. Miscellaneous Provisions
Chapter 77. Snowmobiles and All-Terrain Vehicles (Refs & Annos)
Subchapter B. Certificates of Title, Registration and Permits (Refs & Annos)
Effective: October 23, 2001
75 Pa.C.S.A. § 7712.12
§ 7712.12. Assignment by secured party of security interest
Currentness
(a) General rule.--A secured party may assign, absolutely or otherwise, his security interest in a snowmobile or ATV to a person other than the owner without affecting the interest of the owner or the validity or perfection of the security interest.
(b) Duty of assignee.--An assignee who desires to become the secured party of record shall mail or deliver to the department the certificate of title and an assignment by the secured party named on the certificate of title on a form prescribed by the department accompanied by the required fee. Upon receipt of the certificate of title, assignment and fee, the department shall issue a corrected certificate of title naming the assignee as secured party.
(c) Division 9.--The provisions of this section are subject to 13 Pa.C.S. § 9308(e) (relating to when security interest or agricultural lien is perfected; continuity of perfection).

Credits

2001, June 8, P.L. 123, No. 18, § 27, effective July 1, 2001. Amended 2001, June 25, P.L. 701, No. 68, § 7.1, effective in 120 days.
75 Pa.C.S.A. § 7712.12, PA ST 75 Pa.C.S.A. § 7712.12
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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