The Committee on Education and Public Works proposes the following Amendment No. 1 to H. 3505 (COUNCIL\CM\3505C001.GT.CM21):

Reference is to the bill as introduced.

Amend the bill, as and if amended, SECTION 1, by striking Section 56-3-627(C)(2)(a) and inserting:

/ (a) items transferred:

(i) to members of the immediate family;

(ii) to a legal heir, legatee, or distributee;

(iii) from an individual to a partnership upon formation of a partnership, or from a stockholder to a corporation upon formation of a corporation;

(iv) to a licensed motor vehicle or motorcycle dealer for the purpose of resale;

(v) to a financial institution for the purpose of resale;

(vi) as a result of repossession to any other secured party, for the purpose of resale;

(vii) to an insurer for the purpose of applying for a salvage title; /