MI HB4926

Allows insurance companies to apply for salvage or scrap certificates of title for late-model vehicles without obtaining the original title if they have made two documented requests for surrender by certified mail or delivery service and the owner/lienholder fails to respond within 30 days after claim payment.

Establishes repair cost thresholds: insurance companies must apply for salvage certificates when repair costs are 75-90% of predamaged actual cash value, and scrap certificates when costs are 91% or more of predamaged actual cash value.

Requires insurance companies and certain entities (leasing companies, vehicle manufacturers, repossession companies, financial institutions) to maintain detailed repair estimates and actual repair cost records for minimum 5 years, available for unannounced inspections by law enforcement or secretary of state representatives.

Modifies section 248c to allow vehicle salvage pools to release abandoned vehicles to owners/lienholders upon insurance company authorization, with 30-day pickup periods and provisions for subsequent sale to authorized dealers if vehicles remain unclaimed.

Adds new abandoned vehicle provisions in section 252a allowing property owners to remove abandoned vehicles from private property through towing agencies, with notice to police and 20-day redemption periods for owners before disposition at public sale.