Regulates pay-off of trade-in vehicles and certain vehicle title releases.

Summary

The bill obligates any motor‑vehicle dealer who accepts a trade‑in that still has an outstanding loan to send the full balance to the secured lender within 15 days of taking possession. It also changes how certificates of ownership are delivered and recorded, setting new filing deadlines and fees. Penalties are added for dealers and other parties that fail to follow the new payment and paperwork rules.

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