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ID S1089
Bill
AI Summary
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Allows an insurer or salvage pool to issue a salvage certificate to a purchaser without first obtaining a properly released certificate of origin or title if they cannot obtain it within 30 days after the owner accepts a total loss settlement.
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Requires the insurer or salvage pool to submit to the department within 10 days a sworn statement documenting at least two written attempts to obtain the certificate from the owner, copies of those attempts, proof of lien satisfaction, and the salvage certificate fee.
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Establishes a misdemeanor penalty of up to 6 months in jail, a fine of $1,000, or both for owners of retained salvage vehicles who fail to surrender the title and obtain a salvage certificate or who sell the vehicle without disclosing it is totaled.
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Sets the fee for a salvage certificate at $15.00, which is deposited in the state highway account.
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Requires salvage vehicle purchasers to display the salvage certificate upon request by any peace officer or department agent.
Legislative Description
Amends existing law relating to vehicle titles to provide requirements to allow a salvage pool to issue a salvage certificate with agreement from an insurer to a purchaser without having first obtained a properly released certificate of origin or certificate of title.
VEHICLE TITLES
Last Action
Governor signed Session Law Chapter 143 Effective: 07/01/11
3/29/2011