342.245 Electronic processing of certain applications.

167 words·~1 min read·/wi/chapter-342/342-245-11

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Except as provided in sub.

(3), a secured party shall file a security interest statement and pay the fee under s. 342.19

(a)2. and deliver a release of a security interest under s. 342.22

(b)utilizing an electronic process prescribed by the department under sub.

(4).

(2)Upon receipt of a certificate of title as provided in s. 342.20

(1), a person required to file a security interest statement under sub.

(1)shall destroy the certificate of title.

(3)The department may, by rule, exempt a person or a type of transaction from the requirements of sub.

(1). Any person who is exempted under this subsection shall pay a fee to the department for processing applications submitted by the person under s. 342.19

(a)1. and releases submitted under s. 342.22 , utilizing a process other than an electronic process.

(4)The department shall promulgate rules to implement and administer this section.