Connecticut Becomes 2nd State to Enact Uniform Titling
Connecticut Governor Dannel Malloy recently signed Public Act 14-63, enacting the Uniform Certificate of Title for Vessels Act (UCOTVA). The Governor’s action makes Connecticut the second state, following Virginia, to adopt UCOTVA. Connecticut did not previously require boats to be titled. The Uniform Law Commission wrote UCOTVA to provide states with a model act that brings boat titles on par with the protections and benefits provided by automobile titles for automobiles. Boat dealers, consumers, owners and the marine industry as a whole will greatly benefit from these changes. NMMA worked alongside the Connecticut Marine Trade Association, the National Marine Lenders Association, the International Association of Marine Investigators and BoatU.S., advocating for the bill's enactment. A goal of NMMA is for all states to adopt Uniform Titling. A uniform, seamless network of titling laws will facilitate interstate sales and transfers of boats, and give lending institutions more security and the ability to “perfect” loans on boats that do not qualify for USCG documentation. This law shall take effect on January 1, 2016.
Questions? Contact David Dickerson at [email protected]