The National Marine Manufacturers Association has scheduled a webinar for 2 p.m. (EDT) May 10 to outline the details of a new draft boat title-branding law in conjunction with the Uniform Draft Certificate of Title Act for Vessels drafting committee.
The Draft Uniform Vessel Titling Act is comprehensive, yet not much different from what exists in states with a boat title law - with one major exception - a new branding provision. The webinar will walk participants through the provision so they can understand how it will affect boat owners, boat buyers, dealers, lenders, insurers and marine surveyors.
Few states brand the title of vessels, with the result that vessels with hidden hull damage can be resold after cosmetic repairs without disclosure of the damage. The problem can be compounded greatly after a major hurricane or storm.
By establishing a model vessel brand, this inconsistency can be avoided, providing more reliable and understandable information for the consumer, the NMMA said.
The webinar is open to NMMA members, marine trade organizations, insurers, marine surveyors, bankers, other boating organizations, the boating trade press, dealers and state agencies.
- Cindy Squires, NMMA
- E.M. Miller, chairman of the Certificate of Title Act for Boats Drafting Committee
- Professor Stephen L. Sepinuck, Gonzaga University School of Law, and reporter for the Certificate of Title Act for Boats Drafting Committee