Uniform Certificate of Title Act for Vessels finalized
WASHINGTON – The Uniform Law Commission, a 350-member group of appointed law commissioners that draft uniform laws aimed at solving problems common to all the states, recently approved the Uniform Certificate of Title Act for Vessels.
The Uniform Certificate of Title Act, which is similar to most state boat title schemes, also creates a model vessel brand that acts as a permanent designation on a boat title that discloses any damage to the boat and serves as a valuable tool to consumers, insurers and lenders.
Currently, this information is regulated by a number of different state and federal laws. The Uniform Certificate of Title Act seeks to create a uniform model that will not only be approved by the U.S. Coast Guard, but will help and protect consumers by facilitating financing and transfers of ownership as well as by deterring theft.
The National Marine Manufacturers Association helped support the initiative.
“This is a major win for recreational boating and boaters and we applaud the spirit of collaboration embodied by the ULC in working with the recreational boating industry on this landmark Title Act,” NMMA President Thom Dammrich said in a release. “We look forward to working closely with the ULC as it establishes a committee that will work with NMMA and other recreational boating industry members to educate the boating community on the new model law and facilitate its enactment in all states.”
The ULC presented NMMA, as well as the U.S. Coast Guard, the National Association of State Boating Law Administrators and the National Marine Bankers Association, with Certificates of Appreciation for their contributions to the Title Act at its Annual Meeting in Vail, Colo.
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