Page:United States Statutes at Large Volume 54 Part 1.djvu/773

 76TH CONG. , 3D SESS.-CH. 527-JULY 2, 1940 739 recorder and such number shall be entered on the certificate and on each of the cards opposite the entry of the information relative to the assignment. The certificate shall be delivered to the record holder of the first unsatisfied lien shown thereon, or his representative. SEC. 9. Whenever it is desired to enter a lien or an assignment upon a certificate and such certificate is not available, upon delivery to the recorder of the instrument or assignment the recorder shall demand that the person possessing the certificate surrender it for the purpose of entering thereon the lien or the assignment and upon surrender of the certificate the recorder shall perform the same acts as in cases where the certificate was presented with the instrument. This section shall not be deemed to affect the priority given under section 3 (c) to a lien where the instrument is presented together with the certificate. SEC. 10. The record holder of the first unsatisfied lien shown upon the certificate shall be entitled to the possession of the certificate and upon satisfaction of his lien he shall, within seventy-two hours, place upon the face of the certificate the recorder's record number of the lien, or, if no such instrument is on file, a brief description sufficient to identify the lien, and in either case the word "satisfied", or its equivalent, and his signature, swear to it before a notary public, and forward or deliver the certificate to the holder of the lien next in priority, or, if none, to the owner or to the person designated in writ- ing by the owner. Upon the satisfaction of any lien other than the first unsatisfied lien shown on the certificate, the record holder of the lien so satisfied shall, within seventy-two hours, make similar entries upon the face of the certificate, and it shall be the duty of the person in possession of the certificate, upon demand, to permit such holder to make said entries. Any person in possession of a certificate shall, upon demand of the recorder, surrender it to the recorder within seventy-two hours for the purpose of entering the lien or assignment thereon. SEC. 11. The recorder, upon receipt of a certificate whereon a lien is marked "Satisfied" as set forth in section 10, shall enter on the face of the certificate and on each of the cards described in section 6, and on the instrument, if any, filed in the recorder's office as herein- after provided, his said record number, or, if no such instrument is on file, a brief description sufficient to identify the lien, and in either case the word "released", a facsimile of his signature and the date. Where for any reason a lien holder upon satisfaction of his lien has failed to mark the certificate as herein provided and the lien holder cannot be located, or where the certificate after being so marked has been lost or destroyed and a duplicate certificate issued, the recorder upon receipt of evidence satisfactory to him that the lien has been satisfied shall release it upon the certificate or duplicate certificate, the aforesaid cards and instrument, if any, as above set forth. SEC. 12. The fee for recording liens or assignments of liens upon a certificate shall not exceed the sum of 50 cents for each lien on each automobile contained in the instrument. There shall be no fee for releasing. SEC. 13. The recorder shall maintain, in the space assigned to him in the office of the director, files wherein he shall file one set of the cards hereinbefore described alphabetically under the name of owner and the other under the trade name and engine number if it covers a motor vehicle, or the trade name and serial number, if any, if it covers a trailer. The recorder shall file the instruments at his main office. SEC. 14. Any person intentionally making a false statement with respect to liens in an application for a certificate, or willfully violat- Delivery. Surrender of certifi- cate for lien, etc., nota- tions. Possession of certifi- catebyfirstlienholder. Satisfaction of lien. Entries. Surrender of certifl- cate. Recorder's notation of satisfied lien. Fees. Maintenance of office files. False statements, etc. 54 STAT.]

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