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.
Va. Code Ann. § 46.2-643
Surrender of certificate of title required when security interest paid
Applied in 1 court decision — leading case General Electric Capital Corp. v. Spring Grove Transport, Inc. (In Re Spring Grove Transport, Inc.) (1996)
Most recently applied in General Electric Capital Corp. v. Spring Grove Transport, Inc. (In Re Spring Grove Transport, Inc.) (July 1996)
Code 1950, § 46-76; 1958, c. 541, § 46.1-76; 1966, c. 558; 1978, c. 605; 1989, c. 727.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.