Skip to main content

What kind of recording laws are in place for title loan companies?

Las Vegas, NV |

I took out a title loan while I was waiting for a check for some stocks I sold. As soon as I got the check from my brokerage I deposited in my checking account. When it cleared I took out almost the amount of the loan from the title loan company and I took the cash to their office., along with the remainder of the balance I had on hand in cash, as well.
I save every receipt for everything. That being said, I had so many receipts I decided to scan them all with a receipt scanner. Some of the scans are only part files and won't open. I cannot locate the receipt scan and the actual receipts are gone.
The title loan company recently called and said they have my title and no proof that I paid it off.
What kind of recording is required by them? Is surveillance of cash transactions required?

I just answered my own question: NRS 604A.700 Required books and records.

+ Read More

Attorney answers 1


Electronic lien and title, also known as ELT, is a program offered by various US States allowing state Department of Motor Vehicles to electronically exchange lien and title information with lienholders in lieu of a paper title.
Contents [hide]
1 Standards
2 Implementation in the United States
3 Benefits of ELT for jurisdictions
4 Benefits of ELT for lienholder
5 References

American Association of Motor Vehicle Administrators (AAMVA) created a 'standard' that many states have adopted in ELT design. States that use the AAMVA standard include: Arizona, Hawaii, Massachusetts, Ohio, South Carolina, Texas, Virginia.
States that have chosen not to use the AAMVA standard have developed their own proprietary system.
[edit]Implementation in the United States

States offering an ELT program include Arizona, California, Florida, Georgia, Hawaii, Idaho, Kansas, Louisiana, Massachusetts, New York, Ohio, Pennsylvania, South Carolina, Texas, Utah, Virginia, Washington, and Wisconsin. In addition, Nebraska passed a law mandating they implement a program by January 1, 2011.
Several states have or will require lenders to participate.
Pennsylvania: July 1, 2008
Louisiana: January 1, 2010 [1]
Arizona: May 31, 2010 [2]
Wisconsin: July 1, 2010 [3]
Nebraska: January 1, 2011 [4]
California: January 1, 2013 [5]
Nebraska: January 1, 2011 [6]
South Dakota: July 1, 2012
Florida: January 1, 2013 [7]
Georgia: January 1, 2013 [8]
Texas: January 1, 2013 [9]

The materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use of and access to this Web site or any of the e-mail links contained within the site do not create an attorney-client relationship between Howard Roitman, Esq. and the user or browser. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney.