HB1134: HB1134 Property; repossessors of motor vehicles; revise notice requirements

26 LC 62 0496S The Senate Committee on Banking and Financial Institutions offered the following substitute to HB 1134: A BILL TO BE ENTITLED AN ACT To amend Part 5 of Article 8 of Chapter 14 of Title 44 of the O fficial Code of Georgia1 Annotated, relating to pawnbrokers, factors, bailees, acceptors , and depositories, so as to2 revise notice requirements for repossessors of motor vehicles; to provide for requirements3 for determining the completion of a repossession of a motor veh icle; to provide for a4 rebuttable presumption; to provide for related matters; to repe al conflicting laws; and for5 other purposes.6 BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:7 SECTION 1.8 Part 5 of Article 8 of Chapter 14 of Title 44 of the Official C ode of Georgia Annotated,9 relating to pawnbrokers, factors, bailees, acceptors, and depositories, is amended by revising10 Code Section 44-14-411.1, relating to repossessor of motor vehi cle as involuntary,11 gratuitous, or naked depository of personal property found therein and disposition of personal12 property, as follows:13 "44-14-411.1.14 (a) Any person who lawfully repossesses a motor vehicle shall be an involuntary,15 gratuitous, or naked depository of any personal property found in such motor vehicle and16 - 1 - 26 LC 62 0496S shall have a lien on such property for any reasonable expenses incurred in storing such17 property or in giving notice to such owner.18 (b) Within ten days of the date of repossession, the person repossessing such motor vehicle19 shall notify the owner of the motor vehicle of the intent to dispose of the personal property.20 Such notice must be actual notice, but may be by personal service or by service by certified21 mail or statutory overnight delivery.22 (c) If the personal property is not redeemed within 30 days from the date of the first notice,23 a second notice shall be sent in the same manner as provided in subsection (b) of this Code24 section.25 (d) If the personal property is not redeemed within 30 days from the date of the second26 such notice, the personal property may be disposed of in the manner most expeditious to27 the depository without further liability and the proceeds shall be disbursed as provided in28 Code Section 44-14-412.29 (c) For purposes of this Code section, there shall be a rebuttable presumption that a lawful30 repossession shall be completed when:31 (1) The motor vehicle has been attached to a tow truck or loaded onto a carrier;32 (2) The repossessing party or an authorized agent thereof has entered the motor vehicle;33 or34 (3) The motor vehicle has been moved by the repossessing party or an authorized agent35 thereof."36 SECTION 2.37 All laws and parts of laws in conflict with this Act are repealed.38 - 2 -