(a) Duty of holder.--Upon payment in full of the time balance and other amounts lawfully due under an installment sale contract, a holder shall perform the following:
(1) Upon request, return to the buyer all instruments in the form maintained by the holder, except those filed or recorded with a public official and retained in the files of the official, which:
(i) evidence the buyer's indebtedness or constitute security under the contract; and
(ii) were signed by the buyer or the buyer's surety or guarantor, in conjunction with the contract.
(2) Specify on the instruments under paragraph (1) that the buyer's obligation has been paid in full.
(3) Release all security interests in the motor vehicle or collateral security for the obligation of the buyer under the contract.
(4) Deliver to the buyer any assignments and documents of title as may be necessary to vest the buyer with complete evidence of title.
(b) Delivery of certificate of title.--The certificate of title for the motor vehicle shall be delivered to the buyer within ten days of the date of tender of payment in full by mail or other arrangements made between the buyer and holder.
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