Sec. A-1. 11 MRSA §9-1317, sub-§(5), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, is amended to read:
(5) Except as otherwise provided in sections 9-1320 and 9-1321, if a person files a financing statement with respect to a purchase-money security interest before or within 20 days after the debtor receives delivery of the collateral, the security interest takes priority over the rights of a buyer, lessee or lien creditor that arise between the time the security interest attaches and the time of filing, unless the collateral is covered by Title 29-A, chapter 7, in which case the security interest takes priority if perfected in accordance with section 9-1303 within 30 days after the debtor receives delivery of the collateral.
Sec. A-2. 11 MRSA §9-1324, sub-§(1), as enacted by PL 1999, c. 699, Pt. A, §2 and affected by §4, is amended to read:
(1) Except as otherwise provided in subsection (7), a perfected purchase-money security interest in goods other than inventory or livestock has priority over a conflicting security interest in the same goods, and, except as otherwise provided in section 9-1327, a perfected security interest in its identifiable proceeds also has priority, if the purchase-money security interest is perfected when the debtor receives possession of the collateral or within 20 days thereafter.:
(a) In the case of goods covered by Title 29-A, chapter 7, within 30 days thereafter; or
(b) In all other cases, within 20 days thereafter.
Sec. A-3. 29-A MRSA §603, sub-§4, as amended by PL 2003, c. 235, §1, is further amended to read:
4. Penalty. If an application, certificate of title or other document required to be delivered to the Secretary of State is not delivered to the Secretary of State within 20 30 days, the Secretary of State shall collect $125 $50 as a penalty.
Sec. A-4. 29-A MRSA §654, sub-§2, as enacted by PL 1993, c. 683, Pt. A, §2 and affected by Pt. B, §5, is amended to read:
2. Purchased from the dealer. If the application is for a vehicle purchased from a dealer, in addition to the requirement set forth in subsection 1, the application must be signed by the dealer and must contain the name and the address of any lienholder or assignee holding an interest created or reserved at the time of sale and the date of the lien. The dealer shall, within 20 30 days after the sale, deliver the application to the Secretary of State. The dealer must deliver a copy of the application to the lienholder.
Sec. A-5. 29-A MRSA §667, sub-§1, ¶A, as amended by PL 1997, c. 776, §25, is further amended to read:
A. By an insurer, the insurer or its designee shall surrender the certificate of title to the Secretary of State and apply for a certificate of salvage, in accordance with section 654, within 20 30 days of the settlement of the insurance claim;
Sec. A-6. PL 2003, c. 356, §14 is amended to read:
Sec. 14. Appropriations and allocations. The following appropriations and allocations are made.
SECRETARY OF STATE, DEPARTMENT OF THE
Bureau of Administrative Services and Corporations 0692
Administration - Motor Vehicles 0077
Initiative: Allocates funds for one Attorney position and operating costs necessary to staff the Maine Motor Vehicle Franchise Board.
Other Special Revenue Funds 2003-04 2004-05
Positions - Legislative Count (1.000) (1.000)
Personal Services $51,188 $74,057
All Other $13,788 $10,488
Capital Expenditures $15,297 $0
__________ __________
Other Special Revenue
Funds Total $80,273 $84,545
Sec. A-7. Effective date. This Part takes effect when approved.
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