SB404 Summary

• Amends Section 32-8-84 of the Alabama Code to allow the Department of Motor Vehicles to issue a vehicle title in the name of an insurance company when a stolen vehicle is reported and a settlement has been reached between the insured and their insurance company.

• Requires the title to be issued electronically in the insurance company's name until the vehicle is recovered; if the vehicle is subsequently recovered, the title may be reissued in paper form.

• Maintains existing provisions regarding theft and conversion reporting requirements for peace officers, vehicle owners, lienholders, and business operators, and the Department's authority to suspend vehicle registration for reported stolen or converted vehicles.

• Becomes effective January 1, 2012.