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MS SB2329

Bill

Status

Passed

3/26/2014

Primary Sponsor

Videt Carmichael

Click for details

Origin

Senate

2014 Regular Session

AI Summary

  • Deletes the July 1, 2014 repeal date for Section 83-11-551, making the auto insurance claim payee requirements permanent.

  • Requires insurers paying auto physical damage or collision claims to add repair businesses and lienholders as payees on settlement checks.

  • For total loss claims, insurers must add lienholders shown in the policy, confirmed in writing, or recorded on the vehicle title as payees on settlement checks.

  • Requires lienholders to pay any balance owed to the debtor within 30 days of receiving the insurance check.

  • Allows insurers to request salvage or parts-only title certificates from the Department of Revenue if the properly endorsed title cannot be obtained within 30 days of a total loss settlement.

Legislative Description

Auto insurance; extend repealer on law requiring repair business and lienholder on check paying claim.

Last Action

Approved by Governor

3/26/2014

Committee Referrals

Insurance1/17/2014

Full Bill Text

No bill text available