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S.B. 565
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VETOES
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(3) If on impounded vehicle is not reclaimed within 10 days after the
date specified in a court order under this section, the vehicle shall be considered an
abandoned vehicle subject to the provisions of Title 25, Subtitle 2 of this article.
(g) (1) This section may not be construed to prohibit a lienholder from
exercising its rights under applicable law, including the right to sell a vehicle that has
been impounded or immobilized under this section, in the event of a default in the
obligation giving rise to the lien.
(2) (i) A lienholder exercising the right to sell a vehicle that has been
impounded or immobilized under this section shall notify, in writing, the police
department with custody of the vehicle of the lienholder's intention to sell the vehicle.
(ii) The notice shall be accompanied by copies of documents giving
rise to the lien and shall include an affidavit under oath by the lienholder that the
underlying obligation is in default and the reasons for the default.
(iii) On request of the lienholder and on payment of all costs
required under this section, the vehicle shall be released to the lienholder.
(3) Except as provided in paragraph (4) of this subsection, the rights and
duties provided by law to the lienholder for the sale of collateral securing an
obligation in default shall govern the repossession and sale of the vehicle.
(4) (i) The lienholder may not be required to take possession of the
vehicle before a sale of the vehicle.
(ii) The proceeds of any sale shall be applied first to the actual costs
of immobilization, or towing, preservation, and storage of an impounded vehicle, and
the actual costs of the notices required under subsection (f) of this section, then as
provided by law for distribution of proceeds of a sale by the lienholder.
(5) (i) If the interest of the owner in the vehicle is redeemed, the
lienholder shall, within 10 days after the redemption, mail a notice of the redemption
to the police department who impounded or immobilized the vehicle.
(ii) If the vehicle has been repossessed or otherwise lawfully taken
by the lienholder and the time specified by a court order under this section has not
expired, the lienholder shall return the vehicle within 21 days after the redemption to
the police department who impounded or immobilized the vehicle.
(h) This section does not affect the requirements of Title 25, Subtitle 2 of this
article regarding abandoned vehicles.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2006.
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May 26, 2006
The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
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- 3164 -
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