2014 Connecticut General Statutes
Title 15 - Navigation and Aeronautics
Chapter 269 - Uniform Certificate of Title for Vessels Act
Section 15-218 - (Note: This section is effective January 1, 2016.) Secured party’s transfer statement, defined. Department of Motor Vehicles’ duties upon acceptance.

(a) For the purposes of this section, “secured party’s transfer statement” means a record signed by the secured party of record stating:

(1) That there has been a default on an obligation to the secured party of record secured by the vessel;

(2) The secured party of record is exercising or has exercised post-default remedies with respect to the vessel;

(3) By reason of the exercise, the secured party of record has the right to transfer the ownership interest of an owner, and the name of the owner;

(4) The name and last known mailing address of the owner of record and the secured party of record;

(5) The name of the transferee;

(6) Other information required by subsection (b) of section 15-207; and

(7) One of the following:

(A) The certificate of title is an electronic certificate of title;

(B) The secured party does not have possession of the written certificate of title created in the name of the owner of record; or

(C) The secured party is delivering the written certificate of title to the Department of Motor Vehicles with the secured party’s transfer statement.

(b) Unless the department rejects a secured party’s transfer statement for a reason stated in subsection (c) of section 15-208, after delivery to the department of the statement and payment of fees and taxes payable under the law of this state, other than sections 15-201 to 15-232, inclusive, in connection with the statement or the acquisition or use of the vessel, the department shall:

(1) Accept the statement;

(2) Amend the files of the department to reflect the transfer; and

(3) If the name of the owner whose ownership interest is being transferred is indicated on the certificate of title:

(A) Cancel the certificate of title even if the certificate of title has not been delivered to the department;

(B) Create a new certificate of title indicating the transferee as owner; and

(C) Deliver the new certificate of title or a record evidencing an electronic certificate of title.

(c) An application submitted under subsection (a) of this section or the creation of a certificate of title under subsection (b) of this section shall not in and of itself be a disposition of the vessel and shall not in and of itself relieve the secured party of its duties under article 9 of title 42a.

(P.A. 14-63, S. 18.)

History: P.A. 14-63 effective January 1, 2016.