Date: 02/04/2009

Final
BILL SUMMARY for SB09-150

SENATE COMMITTEE ON STATE, VETERANS & MILITARY AFFAIRS

Votes: View--> Action Taken:
Moved that Senate Bill 09-150 be referred to the CPASS

01:34 PM

Senator Williams, Chair, called the meeting to order.

01:34 PM -- Senate Bill 09-150

Senator Heath, prime sponsor, presented Senate Bill 09-150 concerning the priority of a purchase-money lien for a motor vehicle. He said that Senate Bill 09-150 will address problems with the declaration of bankruptcy prior to the filing of liens on automobiles. He noted that Senate Bill 09-150 will address these problems, and protect sellers of automobiles. He noted that, under current law, liens become effective on the date on which a car is sold, rather than on the date on which the lien was filed.

The following persons testified on Senate Bill 09-150:

01:37 PM -- Tom Helmers, representing CU Direct Connect, said that his organization perfects the liens on 40 percent of car sales in Colorado. He said that the filing of bankruptcy prior to the filing of liens on automobiles places unnecessary costs on the industry.

01:40 PM -- Mark Robby, representing the Credit Union Association of Colorado, said that Senate Bill 09-150 will make the process of selling a car much more equitable.
BILL:SB09-150
TIME: 01:42:27 PM
MOVED:Boyd
MOTION:Moved that Senate Bill 09-150 be referred to the Committee of the Whole, and with a recommendation that it be placed on the consent calendar. The motion passed on a 4-0-1 roll call vote.
SECONDED:
VOTE
Boyd
Yes
Cadman
Excused
Schultheis
Yes
Bacon
Yes
Williams
Yes
Final YES: 4 NO: 0 EXC: 1 ABS: 0 FINAL ACTION: PASS