MN HF1901

Requires scrap vehicle dealers to obtain a certificate of title or salvage title matching the vehicle identification number, a copy of the seller's proof of identification, and a signed statement from the seller attesting the vehicle is not stolen and is free of liens.

Permits scrap vehicle dealers to purchase vehicles without proof of title if they enter into a written purchase agreement, wait seven days before scrapping or dismantling the vehicle, and report the vehicle identification number to local law enforcement within one business day.

Exempts purchases from insurance companies, rental car companies, financial institutions, charities, and other licensed dealers from the seven-day hold requirement, requiring only the seller's business information and proof of identification.

Requires scrap vehicle dealers to retain all documentation and reports for a minimum of three years and make them available for inspection by law enforcement agencies.

Effective July 1, 2012, applying to all transactions occurring on or after that date.