HB 822 -- Satisfaction of a Lien or Encumbrance

Sponsor:  Jones (117)

This bill requires a lienholder to release a lien within one
business day after its satisfaction.  Lienholders will be
required to notify the Department of Revenue within one business
day if the certificate of ownership is in its possession.
Failure to do so is subject to a $250 per-day fine and is doubled
every business day for noncompliance up to a maximum fine of
$5,000.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:20 am