PREFILED    NOV 15 2019

REFERENCE TITLE: auto title loans; clear title

State of Arizona Senate Fifty-fourth Legislature Second Regular Session 2020

SB 1003

Introduced by Senator Farnsworth D

 

AN ACT

 

amending title 44, chapter 2.1, article 1, Arizona Revised Statutes, by adding section 44‑284; relating to motor vehicle time sales.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Title 44, chapter 2.1, article 1, Arizona Revised Statutes, is amended by adding section 44-284, to read:

START_STATUTE44-284.  Secondary motor vehicle finance transaction; clear title required

A seller, bailor, lender or lessor may not enter into a secondary motor vehicle finance transaction unless the borrower holds a clear title to the motor vehicle that the borrower uses to secure the loan.END_STATUTE