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DE SB174
Bill
AI Summary
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Insurance companies that do not receive a properly endorsed certificate of title within 30 days of a total loss settlement may apply for a salvage certificate without surrendering the original title, provided they submit evidence of claim payment and proof of 2 written requests to the owner and lienholders via certified mail or commercial courier
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Licensed auto auctions may obtain salvage certificates for vehicles abandoned at their facilities for more than 30 days when the vehicle was received at an insurance company's request but no total loss settlement occurred, after making 2 documented written attempts to have the vehicle removed
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The Department of Motor Vehicles must issue salvage certificates free and clear of all liens to qualifying insurance companies and auto auctions that meet the documentation requirements
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Sellers, agents, and vehicle owners must retain salvage certificate receipts and records for 3 years and make them available for police inspection during regular business hours
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Failure to maintain required records or refusing to allow inspection constitutes a class B misdemeanor under Delaware law
Legislative Description
An Act To Amend Title 21 Of The Delaware Code Relating To Transfer Of Title For Auto Salvage.
Last Action
Signed by Governor
7/11/2018