.03 Requirement for an Electronic Lien Release.

A. Effective January 1, 2021, all motor vehicle lienholders shall file electronically with the Administration:

(1) Each of its liens; and

(2) When a lien is paid in full, the lien release within 5 business days after receiving full payment.

B. To file electronically with the Administration, a motor vehicle lienholder shall:

(1) Have an agreement with a vendor approved by the Administration; or

(2) Have an agreement with the Administration to submit the information directly to the Administration through the Administration interface.