Louisiana rolls out their ELT program beginning January 2010:

In mid-2008, Louisiana Act 689 was enacted stating that the Louisiana Office of Motor Vehicles (OMV) “shall develop and implement an ELT program on a statewide basis by January 1, 2010.” For more than a year, FDI has been working closely with the Louisiana OMV and various industry partners to implement a Louisiana ELT solution that is compliant with Act 689 and FDI will be ready to support Louisiana’s roll out of their ELT program in January 2010.

FDI encourages lenders to review the legislation carefully to determine their need for compliance for Act 689. Click here to view Act 689.

Arizona legislation makes ELT a mandatory program beginning May 31, 2010:

Arizona has signed enacted legislation SB 1293 that requires the Director of the Arizona Department of Transportation (ADOT) to mandate the recording of certificates of title for newly issued, transferred and corrected certificates through electronic media. The signing of this bill makes ELT mandatory in Arizona as of May 31st 2010. Arizona DOT continues to define the rules of the mandatory ELT program and FDI is working closely with them to understand the rules and communicate them out to lenders.

California signed Senate Bill 1515, making the ELT program mandatory in January 2012:

California has signed Senate Bill 1515 into law on October 12, 2009. This bill states that “the Director of Motor Vehicles, on or before January 1, 2012, to develop an Electronic Lien and Title (ELT) Program, in consultation with lienholders, licensed dealers, and other stakeholders, that would require all lienholders' title information to be held in an electronic format if the department determines that the program is cost effective compared to the current paper title and registration system. The bill would authorize the director to establish an auto loan business volume threshold below which a lienholder is not required to participate in the program.” The effective date for this mandate is January 1st, 2012.

Should you have any questions regarding ELT in the state of Louisiana, Arizona, California or any of the other participating states, please view our ELT state map or contacts FDI at Sales@fdielt.com.