Sec. 501.115. DISCHARGE OF LIEN. (a) When a debt or claim secured by a lien has been satisfied, the lienholder shall, within a reasonable time not to exceed the maximum time allowed by Section 348.408 or 353.405(b), Finance Code, as applicable, execute and deliver to the owner, or the owner's designee, a discharge of the lien in a manner prescribed by the department.
(b) The owner may submit the discharge and title to the department for a new title.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995. Amended by Acts 1997, 75th Leg., ch. 296, Sec. 1, eff. Sept. 1, 1997; Acts 1999, 76th Leg., ch. 268, Sec. 1, eff. May 28, 1999.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 117 (H.B. 2559), Sec. 24, eff. September 1, 2011.
Acts 2011, 82nd Leg., R.S., Ch. 1296 (H.B. 2357), Sec. 54, eff. January 1, 2012.
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