S.P. 148 - L.D. 430
An Act To Clarify Ownership Rights to Repossessed Vehicles
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 29-A MRSA §665, sub-§6 is enacted to read:
6. Repossession. Upon the exercise of the right to take possession of a vehicle by a lienholder that is a supervised financial organization as defined in Title 9-A, section 1-301, ownership of the vehicle vests in the lienholder, subject to the rights granted to the owner and the duties imposed on the lienholder under Title 9-A, Article 5, Part 1 and Title 11, Article 9-A, Part 6.
Effective September 13, 2003, unless otherwise indicated.
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