MN HF3528

Removes the "late-model or high-value" vehicle classification requirement for insurers acquiring vehicle ownership through damage payments, making salvage certificate of title application mandatory for all such vehicles.

Requires insurers to immediately apply for a salvage certificate of title or stamp the existing title with "SALVAGE CERTIFICATE OF TITLE" legend and notify the department within ten days of obtaining title through damage payment.

Mandates any person acquiring a damaged vehicle with out-of-state title to immediately apply for a salvage certificate of title if the vehicle was acquired by an insurer through damages, repair costs exceed vehicle value, or it has an out-of-state salvage title.

Requires self-insured owners of vehicles sustaining damage exceeding 80 percent of actual cash value to immediately apply for a salvage certificate of title.