Section 148.08. Records.

Latest version.

(1) After submitting an electronic security interest statement filing, a secured party shall retain for 60 days and then promptly destroy the certificate of title that the vehicle owner provides to the secured party, as provided in s. 342.245 (2) , Stats.

(2) A secured party shall ensure that sufficient funds are in its financial account with the department, since the department or vendor system shall debit the account established for the secured party for all fees owed to the department for a transaction.

(3) The electronic record in the DMV database satisfies the requirement in s. 342.20 (3) , Stats., that the department notify the secured party of notation of security interest.

History: CR 09-113 : cr. Register May 2010 No. 653 , eff. 6-1-10.

                    
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