§ 37-1291 — Nontransferable certificate of title; issued; when; effect

When an insurance company authorized
to do business in Nebraska acquires a motorboat which has been properly titled
and registered in a state other than Nebraska through payment of a total loss
settlement on account of theft and the motorboat has not become unusable for
transportation through damage and has not sustained any malfunction beyond
reasonable maintenance and repair, the company shall obtain the certificate
of title from the owner and may make application for a nontransferable certificate
of title by surrendering the certificate of title to the county treasurer. A nontransferable certificate of
title shall be issued in the same manner and for the same fee as provided
for a certificate of title in sections 37-1275 to 37-1287 and shall be on
a form prescribed by the Department of Motor Vehicles.
A motorboat which has a nontransferable certificate of title shall not
be sold or otherwise transferred or disposed of without first obtaining a
certificate of title under sections 37-1275 to 37-1287 .
When a nontransferable certificate of title is surrendered for a certificate
of title, the application shall be accompanied by a statement from the insurance
company stating that to the best of its knowledge the motorboat has not become
unusable for transportation through damage and has not sustained any malfunction
beyond reasonable maintenance and repair. The statement shall not constitute
or imply a warranty of condition to any subsequent purchaser or operator of
the motorboat.

Legislative History

Source: Laws 1978, LB 21, § 74; Laws 1989, LB 195, § 11; Laws 1993, LB 235, § 44; R.S.Supp.,1993, § 37-1274; Laws 1994, LB 123, § 20; Laws 1996, LB 464, § 26; Laws 1998, LB 922, § 402; Laws 1999, LB 176, § 126; Laws 2004, LB 560, § 4; Laws 2012, LB801, § 25.