2010 Pennsylvania Code
Title 75 - VEHICLES
Chapter 77 - Snowmobiles and All-Terrain Vehicles
7712.9 - Satisfaction of security interest.

     § 7712.9.  Satisfaction of security interest.
        (a)  Satisfaction of secured obligation.--Unless otherwise
     agreed by the owner, within 15 days of the satisfaction of the
     obligation secured by a security interest in a snowmobile or
     ATV, the secured party shall mail or deliver the certificate of
     title to the owner or to the department with a statement of
     satisfaction signed by the secured party. Upon receipt of the
     certificate of title and statement of satisfaction, the
     department shall issue a corrected certificate of title without
     an indorsement of such secured party's security interest and
     mail the same to the holder of the first remaining security
     interest or, if there is no remaining security interest, the
     owner.
        (b)  Satisfaction of subordinate secured obligation.--If the
     certificate of title for a snowmobile or ATV is in the
     possession of a prior secured party, the subordinate secured
     party whose obligation is satisfied shall mail or deliver to the
     owner a signed statement of satisfaction in accordance with
     subsection (a). Upon request of the owner and receipt of the
     statement of satisfaction, the secured party in possession of
     the certificate of title shall mail or deliver the certificate
     of title, together with the statement of satisfaction, to the
     department. Upon receipt of the certificate of title and
     evidence of satisfaction, the department shall issue a corrected
     certificate of title without an indorsement of the satisfied
     security interest and mail the same to the prior secured party.
        (c)  Penalties.--Any person violating the provisions of this
     section commits a summary offense and shall, upon conviction, be
     sentenced to pay a fine of $50.
     (June 8, 2001, P.L.123, No.18, eff. July 1, 2001; June 25, 2001,
     P.L.701, No.68, eff. 120 days)

        2001 Amendments.  Act 18 added section 7712.9 and Act 68
     amended the entire section.
        Cross References.  Section 7712.9 is referred to in section
     7712.11 of this title.