Ch. 74 2

LAWS OF MARYLAND

8-732.

(a)  Upon the satisfaction of a security interest in a
vessel the secured party shall [securely attach to the
certificate of title a release of security interest,] RELEASE THE
SECURITY INTEREST in whatever form as may be prescribed by or
acceptable to the Department, and within 15 days mail or deliver
the [certificate of title with attached] SIGNED AND DATED release
OF SECURITY INTEREST to the owner and a copy of the release to
the Department. The Department shall correct its records and,
upon request of the owner and the receipt by the Department of
the certificate of title with [attached] THE release OF SECURITY
INTEREST, the Department may issue a new certificate of title to
the owner.

(b)  If the Department determines after a hearing and
following due notice to all parties interested that an
indebtedness does not constitute a security interest, it shall
release the indebtedness upon the certificate of title or issue a
new certificate of title, and mail or deliver the certificate of
title to the owner. Any person aggrieved by the decision of the
Department may appeal in accordance with the provisions of the
Administrative Procedure Act.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1988.

Approved May 27, 1988.

CHAPTER 742

(House Bill 1362)

AN ACT concerning

Vehicle Laws - Drivers' Licenses

FOR the purpose of altering and establishing certain driver's
license fees; altering the expiration dates of certain
driver's licenses; providing for the renewal of certain
driver's licenses issued before a certain date; and
generally relating to certain driver's license fees,
expiration dates, and renewal procedures.

BY repealing and reenacting, with amendments,

Article - Transportation

Section 16-111.1, 16-113.1, and 16-115(a)

Annotated Code of Maryland

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