2005 House Bill 4454 / Public Act 25

Streamline various financing procedures

Introduced in the House

March 3, 2005

Introduced by Rep. Joe Hune (R-47)

To streamline the process of financing a vehicle, watercraft, mobile home or off-road vehicle 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 bill pass.

May 12, 2005

Passed in the Senate 37 to 0 (details)

To streamline the process of financing a vehicle, watercraft, mobile home or off-road vehicle by clarifying the procedures for perfecting a lender’s security interest and clarifying that multiple paperwork filings are not required.

Signed by Gov. Jennifer Granholm

May 23, 2005