Virginia Code 46.2-643: Surrender of certificate of title required when security interest paid.
Current as of: 2024 | Check for updates
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It shall constitute a Class 3 misdemeanor for a secured party who holds a certificate of title as provided in this title to refuse or fail to mark satisfied and surrender it to the person legally entitled thereto within ten days after his security interest is satisfied.
Attorney's Note
Under the Virginia Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class 3 misdemeanor | up to $500 |
Terms Used In Virginia Code 46.2-643
- Person: includes any individual, corporation, partnership, association, cooperative, limited liability company, trust, joint venture, government, political subdivision, or any other legal or commercial entity and any successor, representative, agent, agency, or instrumentality thereof. See Virginia Code 1-230
Code 1950, § 46-76; 1958, c. 541, § 46.1-76; 1966, c. 558; 1978, c. 605; 1989, c. 727.