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TO AMEND THE CODE OF LAWS OF SOUTH CAROLINA, 1976, BY ADDING SECTION 56-19-265 SO AS TO PROVIDE THAT THE DEPARTMENT OF MOTOR VEHICLES MAY ACCEPT ELECTRONICALLY FILED LIEN INFORMATION FOR NEWLY ACQUIRED VEHICLES, VEHICLES ALREADY TITLED, AND LIEN RELEASES; TO PROVIDE A FEE FOR COMMERCIAL PARTIES WHO TRANSMIT OR RETRIEVE DATA FROM THE DEPARTMENT, AND TO PROVIDE FOR THE COLLECTION AND DISBURSEMENT OF THIS FEE.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Article 3, Chapter 19, Title 56 of the 1976 Code is amended by adding:
"Section 56-19-265. Notwithstanding any other provisions of this chapter, the Department of Motor Vehicles may accept electronically filed lien information for newly acquired vehicles, vehicles already titled, and lien releases. The department is authorized to collect a transaction fee from commercial parties who either transmit or retrieve data from the department. The fee must not exceed five dollars for each transaction and must be mutually agreed to by all parties. These fees must be placed by the Comptroller General into a special restricted account to be used by the department to defray the expenses of this program."
SECTION 2. This act takes effect upon approval by the Governor.
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