73rd OREGON LEGISLATIVE ASSEMBLY--2005 Regular Session
 
 
                            Enrolled
 
                         House Bill 2017
 
Sponsored by Representative KRUMMEL
 
 
                     CHAPTER ................
 
 
                             AN ACT
 
 
Relating to liens on motor vehicles; amending ORS 803.100 and
  803.136; and declaring an emergency.
 
Be It Enacted by the People of the State of Oregon:
 
  SECTION 1. ORS 803.100, as amended by section 105, chapter 655,
Oregon Laws 2003, is amended to read:
  803.100. (1) Except as provided in subsection (2) of this
section, the rights and remedies of all persons in vehicles
subject to security interests established under ORS 803.097 are
determined by the provisions of the Uniform Commercial Code.
  (2)(a) If perfection of a security interest in a vehicle occurs
on or before   { - 20 - }   { + 30 + } days after attachment of
the security interest, the secured party takes priority over the
rights of a transferee in bulk or a lien creditor that arise
between the time the secured party's interest attaches and the
time of perfection of the security interest.
  (b) This subsection applies to any security interest in a
vehicle that is not a purchase money security interest.
  SECTION 2. ORS 803.136 is amended to read:
  803.136. The Department of Transportation shall reject, return
or subsequently invalidate a transitional ownership record if:
  (1) More than   { - 20 - }   { + 30 + } days have elapsed
between the date of sale or if no sale is involved, the date the
contract or security interest being perfected was signed and the
date the transitional ownership record is received by the
department;
  (2) The transitional ownership record does not contain all of
the information specified in ORS 801.562;
  (3) It is determined that persons named on the transitional
ownership record as having a security interest did not have a
security interest on the date the transitional ownership record
was received;
  (4) It is determined the person who submitted the transitional
ownership record made false statements in completing the
transitional ownership record;
  (5) The department does not receive the primary ownership
record within 90 days from the date of sale or if no sale is
involved, from the date the security agreement or contract was
signed;
  (6) The security interest holder or person submitting the
transitional ownership record elects to retain it, requests it be
returned or requests that the transitional ownership record be
withdrawn; or
 
 
Enrolled House Bill 2017 (HB 2017-A)                       Page 1
 
 
 
  (7) The information on or in the transitional ownership record
has been changed or altered in a manner that is not acceptable to
the department.
  SECTION 3.  { + This 2005 Act being necessary for the immediate
preservation of the public peace, health and safety, an emergency
is declared to exist, and this 2005 Act takes effect October 17,
2005. + }
                         ----------
 
 
Passed by House May 13, 2005
 
 
      ...........................................................
                                             Chief Clerk of House
 
      ...........................................................
                                                 Speaker of House
 
Passed by Senate June 3, 2005
 
 
      ...........................................................
                                              President of Senate
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Enrolled House Bill 2017 (HB 2017-A)                       Page 2
 
 
 
 
 
Received by Governor:
 
......M.,............., 2005
 
Approved:
 
......M.,............., 2005
 
 
      ...........................................................
                                                         Governor
 
Filed in Office of Secretary of State:
 
......M.,............., 2005
 
 
      ...........................................................
                                               Secretary of State
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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