2005 House Bill 4451 / Public Act 37

Streamline watercraft financing procedures

Introduced in the House

March 3, 2005

Introduced by Rep. Kevin Green (R-77)

To streamline the process of financing a watercraft by clarifying the procedures for perfecting a lender’s security interest and clarifying that multiple paperwork filings are not required.

Referred to the Committee on Banking and Financial Services

March 23, 2005

Reported without amendment

Without amendment and with the recommendation that the bill pass.

April 27, 2005

Passed in the House 109 to 0 (details)

Received in the Senate

April 28, 2005

Referred to the Committee on Banking and Financial Institutions

May 10, 2005

Reported without amendment

With the recommendation that the amendments be adopted and that the bill then pass.

May 11, 2005

Amendment offered

To clarify certain technical references in the bill.

The amendment passed by voice vote

May 12, 2005

Passed in the Senate 37 to 0 (details)

To streamline the process of financing a watercraft by clarifying the procedures for perfecting a lender’s security interest and clarifying that multiple paperwork filings are not required.

Received in the House

May 17, 2005

May 25, 2005

Passed in the House 108 to 0 (details)

To concur with the Senate-passed version of the bill.

Signed by Gov. Jennifer Granholm

June 7, 2005