SF0025

Creates an electronic lien and title system for motor vehicles and requires the Department of Transportation to implement and administer it.

• Defines 'electronic lien and title system' as a statewide system for processing certificates of title, notating liens, perfecting and releasing security interests, and processing sales/use tax payments. (W.S. 31-2-113(a))
• Requires the Department of Transportation to implement and administer an electronic lien and title system, and authorizes contracting with vendors who may charge transaction fees to users but not to the state or counties. (W.S. 31-2-113(b), W.S. 31-2-113(c))
• Mandates that dealers, lenders, lienholders, insurance companies, secured parties, and counties must use the electronic system, while individual vehicle owners may choose to use it or request paper certificates of title. (W.S. 31-2-113(d))
• Exempts mobile homes from the electronic lien and title system requirements. (W.S. 31-2-113(e))
• Amends county clerk procedures to require forwarding certificate of title records electronically through the electronic lien and title system within three business days of issuance. (W.S. 31-1-202(c))
• Requires the Department to maintain all vehicle certificates of title in the electronic lien and title system instead of paper records. (W.S. 31-1-202(d))
• Permits vehicle owners to apply for certificates of title electronically through the electronic lien and title system or at county clerk offices. (W.S. 31-2-101(a), W.S. 31-2-101(b), W.S. 31-2-101(c))
• Allows electronic certificates of title and remote authentication for applications, affidavits, and signatures through the electronic lien and title system in compliance with Wyoming's Uniform Electronic Transactions Act. (W.S. 31-2-103(a), W.S. 31-2-103(d), W.S. 40-21-101 through 40-21-119)
• Permits electronic delivery of certificates of title, title transfers, and documents between transferors, transferees, financial institutions, and county clerks through the electronic lien and title system.