Transportation Committee
Judiciary Committee
AN ACT REDUCING THE WAITING PERIOD UNDER THE VESSEL LIEN PROCESS
SUMMARY: This act reduces, from 60 to 30 days, the minimum time that someone holding a lien on a vessel must wait to sell it at a public auction after he or she notifies the secretary of the state of the lien. The lien holder may sell the vessel if no one seeks to dissolve the lien within that time.
EFFECTIVE DATE: October 1, 2011
OLR Tracking: PF: VR: : JL: ro/ts