Current Status Introducing Body:Senate Bill Number:694 Primary Sponsor:Lourie Committee Number:15 Type of Legislation:GB Subject:Motor vehicle, leased; exempt from obtaining title, when Residing Body:Senate Current Committee:Transportation Computer Document Number:436/11301.DW Introduced Date:Feb 20, 1991 Last History Body:Senate Last History Date:Feb 20, 1991 Last History Type:Introduced, read first time, referred to Committee Scope of Legislation:Statewide All Sponsors:Lourie Type of Legislation:General Bill
Bill Body Date Action Description CMN
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694 Senate Feb 20, 1991 Introduced, read first time, 15
referred to Committee
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TO AMEND SECTION 56-19-220, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO THE EXEMPTIONS OF CERTAIN VEHICLES FROM OBTAINING A CERTIFICATE OF TITLE, SO AS TO ADD VEHICLES LEASED BY A DEALER WHEN THE LEASE IS SOLD UNDER SPECIFIC CONDITIONS.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 56-19-220 of the 1976 Code is amended by adding:
"(10) A vehicle held for sale by a dealer when the vehicle is leased by the dealer and the underlying lease is sold by the dealer to a lienholder within seventy-two hours of the execution of the lease."
SECTION 2. This act takes effect upon approval by the Governor.