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IA HSB179
SB
Status
2/13/2025
Primary Sponsor
Transportation
Click for details
AI Summary
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Allows insurers to obtain a salvage certificate of title for total loss vehicles by submitting supporting documents (power of attorney, duplicate title application, or odometer statement) instead of the current requirement to submit an affidavit certifying two written attempts to obtain the title from the previous owner
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Defines "total loss" as when the estimated repair cost plus projected salvage value meets or exceeds the vehicle's cash value prior to damage
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Supporting documents do not require notarization and may be signed electronically
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Requires insurers to indemnify and hold harmless the Iowa Department of Transportation for any claims resulting from issuing a salvage title under this process
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Applications must include a $20 fee plus $5 surcharge, and proof of settlement payment to the previous owner; violations constitute a simple misdemeanor with a $135 scheduled fine
Legislative Description
A bill for an act relating to applications for a motor vehicle salvage certificate of title by an insurer without surrendering the certificate of title or manufacturer's or importer's statement of origin, and making penalties applicable.(See HF 777.)
Last Action
Committee report approving bill, renumbered as HF 777.
3/5/2025