MS HB414

Prohibits operation of motor vehicles with salvage or junk certificates of title on Mississippi highways, with exceptions for vehicles being restored to pre-damage condition.

Requires owners to apply for salvage certificates within 72 hours after total loss occurs (defined as damage equal to or greater than 75% of fair retail value), and insurance companies must forward titles to Department of Revenue within 72 hours of settlement.

Establishes inspection and restoration procedures for salvage vehicles, requiring notarized bills of sale for major component parts, written affirmations from owners, and Department of Public Safety inspection before issuing "rebuilt" title certificates at a $75 application fee.

Prohibits possession of salvage/junk vehicles with removed manufacturer identification number plates, and makes it unlawful to possess or transfer titles, VIN plates, or license plates from scrapped or dismantled vehicles; violators are guilty of misdemeanor.

Requires written disclosure in no smaller than 10-point type to prospective buyers that a vehicle has a "salvage" or "rebuilt" designation on its title, and does not apply to vehicles 10 years or older valued at $1,500 or less; effective July 1, 2010.