NORTH CAROLINA GENERAL ASSEMBLY

1979 SESSION

 

 

CHAPTER 199

HOUSE BILL 362

 

 

AN ACT TO AMEND G.S. 20-58(2) TO PROVIDE FOR THE NOTATION OF SECURITY INTEREST ON MOTOR VEHICLES'S CERTIFICATE OF TITLE.

 

The General Assembly of North Carolina enacts:

 

Section 1.  Two sentences are added to the end of G.S. 20-58(2) to read as follows:

"An application for notation of a security interest may be signed by the secured party instead of the debtor when the application is accompanied by documentary evidence of the applicant's security interest in that motor vehicle signed by the debtor and by affidavit of the applicant stating the reason the debtor did not sign the application. In the event the certificate cannot be obtained for recordation of the security interest, when title remains in the name of the debtor, the Division shall cancel the certificate and issue a new certificate of title listing all the respective security interests."

Sec. 2.  This act shall become effective July 1, 1979.

In the General Assembly read three times and ratified, this the 26th day of March, 1979.