BILL NUMBER: AB 1515	CHAPTERED
	BILL TEXT

	CHAPTER  540
	FILED WITH SECRETARY OF STATE  OCTOBER 11, 2009
	APPROVED BY GOVERNOR  OCTOBER 11, 2009
	PASSED THE SENATE  JULY 16, 2009
	PASSED THE ASSEMBLY  AUGUST 20, 2009
	AMENDED IN SENATE  JUNE 25, 2009
	AMENDED IN ASSEMBLY  APRIL 29, 2009
	AMENDED IN ASSEMBLY  APRIL 14, 2009

INTRODUCED BY   Assembly Member Eng

                        FEBRUARY 27, 2009

   An act to add Section 4450.5 to the Vehicle Code, relating to
vehicles.



	LEGISLATIVE COUNSEL'S DIGEST


   AB 1515, Eng. Vehicles: Electronic Lien and Title (ELT) Program.
   Existing law requires the Department of Motor Vehicles, upon
registering a vehicle, to issue a certificate of ownership to the
legal owner and a registration card to the registered owner, or both
to the registered owner, if there is no legal owner of the vehicle.
   This bill would require the Director of Motor Vehicles, on or
before January 1, 2012, to develop an Electronic Lien and Title (ELT)
Program, in consultation with lienholders, licensed dealers, and
other stakeholders, that would require all lienholders' title
information to be held in an electronic format if the department
determines that the program is cost effective compared to the current
paper title and registration system. The bill would authorize the
director to establish an auto loan business volume threshold below
which a lienholder is not required to participate in the program.


THE PEOPLE OF THE STATE OF CALIFORNIA DO ENACT AS FOLLOWS:

  SECTION 1.  Section 4450.5 is added to the Vehicle Code, to read:
   4450.5.  (a) On or before January 1, 2012, the director shall
develop an Electronic Lien and Title (ELT) Program, in consultation
with lienholders, licensed dealers, and other stakeholders, to
require that all lienholders' title information be held in an
electronic format, if the department determines that the program is
cost effective compared to the current paper title and registration
system.
   (b) The director may establish an auto loan business volume
threshold below which a lienholder is not required to participate in
the program developed pursuant to subdivision (a).