An Act relative to notifying automobile lien holders of certain towing and storage costs
Requires towing and storage companies to notify vehicle lien holders of accumulating costs to protect lenders' financial interests in impounded vehicles.
Requires towing and storage companies to notify vehicle lien holders of accumulating costs to protect lenders' financial interests in impounded vehicles.
HD 2510 requires that automobile lien holders be notified when a vehicle is towed and stored, ensuring they are informed of accumulating towing and storage costs that could affect their financial interest in the vehicle. The bill establishes a notification requirement for towing companies or storage facilities to contact lien holders about these costs in a timely manner.
Lien holders have a financial stake in vehicles and need to know about costs that could reduce the vehicle's net value or lead to sale of the vehicle to cover expenses. Without notification, lien holders may discover substantial accumulated charges only after they become legally responsible for them, potentially creating disputes and financial losses.
Compiled from official sources — confirm details with the bill’s official record.
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