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MS SB2329
Bill
Status
3/26/2014
Primary Sponsor
Videt Carmichael
Click for details
AI Summary
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Deletes the July 1, 2014 repeal date for Section 83-11-551, making the auto insurance claim payee requirements permanent.
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Requires insurers paying auto physical damage or collision claims to add repair businesses and lienholders as payees on settlement checks.
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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.
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Requires lienholders to pay any balance owed to the debtor within 30 days of receiving the insurance check.
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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