Uniform Certificate of Title Act Streamlines Vessel Ownership
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The document discusses a proposed Uniform Certificate of Title Act for Vessels that was drafted by a committee to create a uniform titling system for vessels across states. The key objectives of the proposed act are to facilitate ownership transfers of vessels, deter theft, accommodate vessel financing, and enhance consumer protections. It was drafted by a committee that included Uniform Law Commissioners and was observed by others, with the goal of increasing financial security and consumer protections through titling uniformity across states.
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Uniform Certificate of Title Act Streamlines Vessel Ownership
- 1. Uniform Certificate of Title Act for Vessels Sharon Maenner Carrick MD Dept of Natural Resources Licensing & Registration Service
Editor's Notes
- Uniform Law Commissioners – lawyers qualified to practice law Attorneys in private practice Law professors Legislative staff attorneys Lawyer-legislators State and federal judges National Conference of Commissioners on Uniform State Laws (NCCUSL) developed a uniform titling act for automobiles – very few, if any states have fully implemented Hindsight – failed to involve the industry – those that would implement OBSERVORS: American Bar Association National Marine Manufacturers Association National Marine Bankers American Bankers Association Boat Owners Association of the United States U.S. Coast Guard NASBLA Boyd Walden – Florida – via MVA Sharon Carrick – Maryland – DNR
- Incorporate 33 CFR 187 – USCG Vessel Identification System (33 states) Currently -- 39 title, 1 optional, 16 non-title 56 – states + US territories Federal statute – referenced – future changes automatically incorporated Incorporates UCC protections for financing entities Branding – “hull damaged” – currently MVs in many states mechanism for consumers, insurers and lenders On notice – further investigation – survey
- Uniform law commissioners MD – 5 Liaison member for each jurisdiction
- SAMPLE ACT adapt to incorporate existing state law flexibility recommended provisions – optional