New Mexico § 66-3-11 Director may authorize issuance of nonnegotiable

New Mexico Statutes

§ 66-3-11 — Director may authorize issuance of nonnegotiable

New Mexico·Ch. 66 Motor Vehicles·Art. 3 Registration Laws; Security Interests; Anti-Theft

certificates of title. Any owner of a vehicle required to be registered under the provisions of Section 66- 3-1 NMSA 1978, who is unable to comply with the registration requirements of Section 66-3-4 NMSA 1978 for the reason that the vehicle is registered and titled in another state, territory or possession of the United States, subject to a lien, and the original title thereof cannot be obtained from the lien holder, shall make application to the division for the registration and issuance of a nonnegotiable certificate of title. Application for a nonnegotiable certificate of title shall be made upon written forms prescribed by the director and upon the approval of the director a nonnegotiable certificate of title shall be issued by the division with the words "NONNEGOTIABLE AND NONTRANSFE

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certificates of title. Any owner of a vehicle required to be registered under the provisions of Section 66- 3-1 NMSA 1978, who is unable to comply with the registration requirements of Section 66-3-4 NMSA 1978 for the reason that the vehicle is registered and titled in another state, territory or possession of the United States, subject to a lien, and the original title thereof cannot be obtained from the lien holder, shall make application to the division for the registration and issuance of a nonnegotiable certificate of title. Application for a nonnegotiable certificate of title shall be made upon written forms prescribed by the director and upon the approval of the director a nonnegotiable certificate of title shall be issued by the division with the words "NONNEGOTIABLE AND NONTRANSFERABLE" clearly marked in bold letters on its face.

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