§ 314.05. Transaction satisfaction and default.

(a)

When the title loan has been paid in full, the title loan lender must deliver to the borrower a certificate of title clear of all encumbrances placed upon the title by the title loan lender within thirty (30) days of such payment in full.

(b)

A title loan lender who engages in a title loan transaction may take possession of a motor vehicle upon a borrower's default under the title loan agreement. Unless the borrower voluntarily surrenders the motor vehicle, the title loan lender may only take possession of a motor vehicle through an agent licensed by the State of Florida to repossess motor vehicles. Any sale or disposal of a motor vehicle shall be made through a motor vehicle dealer licensed under Section 320.27, Florida Statutes.

(c)

Except as provided by this section, title loan lenders shall comply with the applicable requirements of Chapter 679, Part V, Florida Statutes.

(d)

Nonpublic sales of motor vehicles or disposal of motor vehicles between licensees, business affiliates or family members shall be presumed to be commercially unreasonable.

(Ord. No. 99-27, § 5, 9-29-99)