New York S02106 amends vehicle and traffic law to establish an electronic lien and title program.

New York S02106 amends the vehicle and traffic law to require the establishment of an electronic lien and title program. The commissioner is mandated to develop and maintain an electronic data and communication system with banks and other financial institutions for electronically recording the existence of security interests. Lienholders must electronically transmit liens and lien satisfactions to the department in a format determined by the commissioner. The commissioner shall not issue a duplicate certificate of title unless the original certificate was surrendered.

New York S02106 amends vehicle and traffic law to establish an electronic lien and title program.

New York S02106 amends the vehicle and traffic law to require the establishment of an electronic lien and title program. The commissioner is mandated to develop and maintain an electronic data and communication system with banks and other financial institutions for electronically recording the existence of security interests. Lienholders must electronically transmit liens and lien satisfactions to the department in a format determined by the commissioner. The commissioner shall not issue a duplicate certificate of title unless the original certificate was surrendered.