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ADVOCACY UPDATE




​SPONSORED BY: 
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Boat Titling

3/29/2019

1 Comment

 
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​HB 314 — Georgia Uniform Certificate of Title for Vessels Act by Rep. Ron Stephens (R), Savannah, was passed by the Senate with a vote of 46-2 on Thursday.  If the bill is signed by the Governor, then this will mean big changes for boats in Georgia.  Every vessel using the waters of this state shall be titled unless it is exempt from the numbering requirements.  Every outboard motor greater than 25 horsepower used to propel a tilted vessel shall be included in the vessel title.  Fees for numbering vessels for registration period of three years are outlined within the bill.  The effective date of this legislation will be July 1, 2020.  It is important to note that the additional titling requirements may impact the way your institution perfects its security interest in boats within the State of Georgia.  Assuming the bill is signed by the Governor, we would encourage you to review your policies with respect to making loans secured by boats to ensure that they remain adequate in light of the changes to Georgia law outlined in this bill.

1 Comment
Nancy S. Jernigan
1/6/2021 10:16:47 am

Hi Lori,
Do you happen to know if this passed? It looks as though it did but we haven't received (to my knowledge) any notification of changes to our loan platform.
Thanks,
Nancy

Reply



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    Authors
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    Lori Godfrey
    EVP, Chief of Staff, Government & Regulatory Relations

    Tyler Eck
    Government and Regulatory Relations Associate


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  • Home
  • About CBA
    • Member Login
    • Board of Directors
    • Membership Overview
    • CBA Committees
    • Our Team
    • Remembering Julian Hester
    • Directions to Our Office
  • Contact
  • Membership
    • Member Directory >
      • Bank Listing Update
    • Preferred Service Providers
    • Associate Member Directory >
      • Company Listing Update
    • Associate Member Benefits & Application
    • Member Benefits
    • Excecutive Channel
    • CBA Wellness Solutions >
      • Peachy Posts
  • Professional Development
    • CBA University >
      • Calendar
      • Webinar Series
      • Archived Webinars
      • Barret School of Banking
      • 2021 Compliance Professionals Package
      • HR & Talent Development League
      • The Community Bank Leadership Academy
      • Compliance Resources
      • Cancellation Policies & Facility Maps
      • Speakers
      • Venue Availability
      • Southeastern Community Bankers Association
    • Conventions/Events >
      • 53rd Annual Convention & Mini-Trade Show
      • Banker Regulatory Forum >
        • Banker Regulatory Forum Questions
      • Small Business Day at the Dome
      • PAC/PR Fundraising Events >
        • PAC/PR Clay Shoot
      • Call for Presentations
  • COMMUNICATIONS
    • Communications Overview
    • Advertising Opportunities
    • Sponsorship Opportunities
    • Quarterly Marketing Toolkits >
      • February - I Love My Community Bank
    • Georgia Communities First Magazine
    • Julian & Jan Hester Scholarship
    • Walraven Scholarship
    • eNewsletter - CBA Today
    • Lifetime Service Awards
  • Advocacy
    • Advocacy Update
    • Priority Legislation SB 157 >
      • SB 157 Survey
    • Locate Your Legislator
    • CBA's PAC/PR Fund >
      • T-Shirt Fundraiser PAC/PR
      • Corporate Donations
      • Individual Donations
    • ICBA Plan for Prosperity
  • Resources
    • THE CARES ACT & SBA LENDING
    • Paycheck Protection Program
    • Disaster & Pandemic Support & Preparedness
    • CBA Legal Hotline
    • PSP & Associate Member Support During Covid-19
    • CBA Career Center
    • Rise Up - College Student Development Program
    • Georgia Financial Directory
    • ICBA
    • Salary Survey
    • Financial Literacy
    • Useful Websites
    • FDIC Regulatory Calendar
    • CBA Privacy Policy