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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 01:16:47 pm

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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    Lori Godfrey
    EVP, Chief of Staff, Government & Regulatory Relations
    View my profile on LinkedIn
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  • HOME
  • ABOUT CBA
    • Board of Directors
    • CBA Committees
    • LEAD Division
    • Office Directions & Hours
    • Our Team
    • Privacy Policy
    • Remembering Julian Hester
  • MEMBERSHIP
    • Member Login
    • Associate Members >
      • Associate Member Benefits & Application
      • Associate Member Directory >
        • Company Listing Update
    • Bank Members >
      • Member Benefits
      • Member Bank Directory >
        • Bank Listing Update
      • Lifetime Service Awards
    • Preferred Service Providers
    • ADVERTISING & SPONSORSHIP OPPORTUNITIES
    • Resources >
      • CBA Legal Hotline
      • CBA Career Center
      • CBA Wellness Solutions
      • April is Community Banking Month
      • Marketing Resources
      • Useful Websites
  • PROFESSIONAL DEVELOPMENT
    • Community Bankers College
    • Programs >
      • Calendar
      • Programs by Functional Category
      • Webinars
      • Banker Regulatory Forum
      • Barret School of Banking
      • Community Bank Leadership Academy
      • Compliance Professionals Package >
        • 2023 Compliance Professionals Package
      • Connect (Convention)
      • Executive Channel
      • HR & Talent Development League
      • WINSPIRE - Women in Banking
    • Resources >
      • Cancellation Policies & Facility Maps
      • Compliance Resources
      • Disaster & Pandemic Support & Preparedness
      • FDIC Regulatory Calendar
      • Financial Literacy
      • Speakers
    • Scholarships/Student Development >
      • Julian & Jan Hester Scholarship
      • McNair Scholarship
      • Walraven Scholarship
      • Rise Up - College Student Development Program
  • PUBLICATIONS
    • Advocacy Update
    • Education Buzz
    • eNewsletter - CBA Today
    • Georgia Communities First Magazine
    • Georgia Financial Directory
    • Innovation Circuit
    • Peachy Posts
    • Swaggin Wagon Adventures
  • ADVOCACY
    • Programs >
      • Clay Shoot
      • TopGolf Tournaments
      • Town Hall Talks
    • Advocacy Fund >
      • T-Shirt Advocacy Fundraiser
      • Corporate Donations
      • Individual Donations
    • Advocacy Update
    • ICBA Plan for Prosperity
    • Locate Your Legislator
    • Priority Legislation SB 157 >
      • SB 157 Survey
    • SBA/PPP Resources >
      • THE CARES ACT & SBA LENDING
      • Paycheck Protection Program
      • PSP & Associate Member Support During Covid-19
    • Silent Auction Items