700.355. Certificates of title, delivery of, how, to whom--election for director to retain possession, procedure. - Missouri Statutes

Certificates of title, delivery of, how, to whom--election fordirector to retain possession, procedure.

700.355. 1. A certificate of title to the manufactured home whenissued by the director of revenue shall be mailed or confirmation of suchtitle shall be electronically transmitted or mailed to the owner shown onthe face of the title of such manufactured home. Provided the lienholdersubmits complete and legible documents, the director of revenue shall mailconfirmation or electronically confirm receipt of each notice of lien tothe lienholder as soon as possible, but no later than fifteen business daysafter the filing of the notice of lien.

2. A lienholder may elect that the director of revenue retainpossession of an electronic certificate of title, and the director shallissue regulations to cover the procedure by which such election is made.Each such certificate of ownership or title shall require a separateelection, unless the director provides otherwise by regulation. Asubordinate lienholder shall be bound by the election of the superiorlienholder with respect to the certificate involved.

3. As used in this section, "electronic certificate of ownership"means any electronic record of ownership or title, including a lien orliens that may be recorded.

(L. 1985 S.B. 152 § 700.155, A.L. 2002 H.B. 2008 merged with S.B. 895)

Effective 8-28-02 (H.B. 2008)

7-01-03 (S.B. 895)