Truly Agreed, 2015

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SCS HB 686, 2015    (Amended Section - Proposed Language)

301.196. 1. Beginning January 1, 2006, except as otherwise provided in this section, the transferor of an interest in a motor vehicle or trailer listed on the face of a Missouri title, excluding salvage titles and junking certificates, shall notify the department of revenue of the transfer within thirty days of the date of transfer. The notice shall be in a form determined by the department by rule and shall contain:
     (1) The name of the transferor;
     (2) A description of the motor vehicle or trailer sufficient to identify it;
     (3) The vehicle identification number of the motor vehicle or trailer;
     (4) The name and address of the transferee;
     (5) The date of birth of the transferee, unless the transferee is not a natural person;
     (6) The date of the transfer or sale;
     (7) The purchase price of the motor vehicle or trailer, if applicable;
     (8) The number of the transferee's drivers license, unless the transferee does not have a drivers license;
      (9) The transferor's electronic signature if transmitted electronically or the signatures of the transferee and transferor if not submitted electronically. For the purposes of this section, "transmitted electronically" shall have the same meaning as an electronic signature as defined in section 432.205;
     (10) Any other information required by the department by rule.
     2. A notice of sale substantially complying with the requirements of this section is effective even though it contains minor errors which are not materially misleading.
     3. For purposes of giving notice under this section, if the transfer occurs by operation of law, the personal representative, receiver, trustee, sheriff, or other representative or successor in interest of the person whose interest is transferred shall be considered the transferor.
Repossession by a creditor shall not be considered a transfer of ownership requiring such notice.
     4. The requirements of this section shall not apply to transfers when there is no complete change of ownership interest or upon award of ownership of a motor vehicle or trailer made by court order, or transfers of ownership of a motor vehicle or trailer to or between vehicle dealers, or transfers of ownership of a motor vehicle or trailer to an insurance company due to a theft or casualty loss, or transfers of beneficial ownership of a motor vehicle owned by a trust.
     5. Notification under this section is only required for transfers of ownership that would otherwise require registration and an application for certificate of title in this state under section 301.190, and is for informational purposes only and does not constitute an assignment or release of any interest in the vehicle.
     6. Retail sales made by licensed dealers including sales of new vehicles shall be reported pursuant to the provisions of section 301.280.


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