A secured party that releases a security interest in a snowmobile or ATV shall mail or deliver the certificate of title to the owner with a statement of release signed by the secured party, or the secured party may apply to the department for a corrected certificate of title to be issued in the name of the owner. Upon receipt of the certificate of title and statement of release, the department shall issue a corrected certificate of title without an indorsement of such secured party and mail the same to the holder of the first remaining security interest or, if there is no remaining secured party, the owner.
(June 8, 2001, P.L.123, No.18, eff. July 1, 2001; June 25, 2001, P.L.701, No.68, eff. 120 days)
Cross References. Section 7712.10 is referred to in section 7712.11 of this title.
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