July 15, 2011

New Title Laws Will Benefit Recreational Boaters

This week a new set of laws called the Uniform Certificate of Title Act for Vessels were approved. Drafted by the Uniform Law Commission (ULC), a 350-member group of appointed law commissioners, the act is aimed at helping protect consumers and will be valuable to insurers and lenders as well. In addition to the standard information currently included on a title, the act also created a model vessel brand that will be a permanent designation on a boat title that discloses damage to a boat, which will provide an additional level of protection for consumers. The act also would also help in facilitating financing and transfers of ownership.

The group is now forming committees that will serve to educate the boating community and enacting the new laws through the US.

Posted by ribcraftusa at July 15, 2011 02:46 PM