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1 Statement of Purpose. The general court finds a massive and unnecessary duplication of process in the delivery of the federal mandate concerning the document known as a deed, title, or certificate of origin in the matter of sales of automobiles and other self-propelled conveyances. The duplication of process is extremely costly to the taxpayers and must be abated and eliminated.
2 Automobiles and Other Self-Propelled Conveyances; Deed; Certificate of Title; Certificate of Origin. RSA 261:13 is repealed and reenacted to read as follows:
261:13 Certificate of Origin; Deed; Title. When an automobile or other self-propelled conveyance is delivered in this state by the manufacturer to its agent or franchised dealer, the manufacturer shall execute and deliver to the agent or franchised dealer a document, certificate of origin, deed, or title in the form prescribed by the federal government that has exclusive control over all interstate commerce. The deed or certificate of origin shall contain the identification number assigned and stamped upon the automobile or other self-propelled conveyance, the name of the manufacturer, model year, year of manufacture, number of cylinders, a general description of the body, if any, and the type of model. When a new automobile or other self-propelled conveyance is sold in this state, the manufacturer, agent, or franchised dealer shall deliver the original certificate of origin or deed to the purchaser, who may use the document as collateral with any bank or lending institution who finances any balance due to the dealer. The lending institutions shall deliver the certificate of origin or deed to the original purchaser or owner of the automobile upon completion of the financing contract. The certificate of origin or deed shall stay with the automobile as evidence of title and delivered to any subsequent purchaser or owner pursuant to RSA 382-A.
3 Effective Date. This act shall take effect 60 days after its passage.
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1 Statement of Purpose. The general court finds a massive and unnecessary duplication of process in the delivery of the federal mandate concerning the document known as a deed, title, or certificate of origin in the matter of sales of automobiles and other self-propelled conveyances. The duplication of process is extremely costly to the taxpayers and must be abated and eliminated.
2 Automobiles and Other Self-Propelled Conveyances; Deed; Certificate of Title; Certificate of Origin. RSA 261:13 is repealed and reenacted to read as follows:
261:13 Certificate of Origin; Deed; Title. When an automobile or other self-propelled conveyance is delivered in this state by the manufacturer to its agent or franchised dealer, the manufacturer shall execute and deliver to the agent or franchised dealer a document, certificate of origin, deed, or title in the form prescribed by the federal government that has exclusive control over all interstate commerce. The deed or certificate of origin shall contain the identification number assigned and stamped upon the automobile or other self-propelled conveyance, the name of the manufacturer, model year, year of manufacture, number of cylinders, a general description of the body, if any, and the type of model. When a new automobile or other self-propelled conveyance is sold in this state, the manufacturer, agent, or franchised dealer shall deliver the original certificate of origin or deed to the purchaser, who may use the document as collateral with any bank or lending institution who finances any balance due to the dealer. The lending institutions shall deliver the certificate of origin or deed to the original purchaser or owner of the automobile upon completion of the financing contract. The certificate of origin or deed shall stay with the automobile as evidence of title and delivered to any subsequent purchaser or owner pursuant to RSA 382-A.
3 Effective Date. This act shall take effect 60 days after its passage.