PREFILED NOV 15 2019
REFERENCE TITLE: auto title loans; clear title
State of Arizona
Senate
Fifty-fourth Legislature
Second Regular Session
2020
SB 1003
Introduced by
Senator Farnsworth D
AN ACT
amending title 44, chapter 2.1, article 1, Arizona Revised Statutes, by adding section 44‑284; relating to motor vehicle time sales.
(TEXT OF BILL BEGINS ON NEXT PAGE)
Be it enacted by the Legislature of the State of Arizona:
Section 1. Title 44, chapter 2.1, article 1, Arizona Revised Statutes, is amended by adding section 44-284, to read:
START_STATUTE44-284. Secondary motor vehicle finance transaction; clear title required
A seller, bailor, lender or lessor may not enter into a secondary motor vehicle finance transaction unless the borrower holds a clear title to the motor vehicle that the borrower uses to secure the loan.END_STATUTE