Monday, May 2, 2011

Sign Up For California's Mandatory ELT

California will be requiring lenders to participate in their ELT program beginning January 1, 2012. No exceptions to the mandatory requirement have been announced, though the law allows such. On 10/19/2009 the law was enacated:
The people of the State of California do enact as follows:
4450.5. (a) On or before January 1, 2012, the director shall develop an Electronic Lien and Title (ELT) Program, in consultation with lienholders, licensed dealers, and other stakeholders, to require that all lienholders’ title information be held in an electronic format, if the department determines that the program is cost effective compared to the current paper title and registration system.
(b) The director may establish an auto loan business volume threshold below which a lienholder is not required to participate in the program developed pursuant to subdivision (a).
There remain only two more opportunities to sign up for the Electronic Lien and Title program:
  1. June 20, 2011 - Applications for starting on 9/30/2011
  2. September 23, 2011 - Applications for starting on 12/30/2011
UPDATE: California has updated their information about the mandatory program and provided a 2012 calendar.

Visit for more information on signing up.
Image above is the STS-134 Crew Patch from the next to the last Space Shuttle mission.