MS HB316

Revises procedures for towing companies to follow when a vehicle is not claimed by the owner or lienholder within five business days of the initial tow.

Requires towing companies to notify the owner and lienholder by registered mail no later than the tenth day following the tow that charges must be paid within thirty days or the vehicle will be sold.

Changes vehicle sale notification from two consecutive weeks to one week of publication in a newspaper with circulation in the county where the vehicle was initially towed.

Allows towing companies to retain all proceeds from the sale of unclaimed vehicles, eliminating the previous requirement to hold excess proceeds for six months and remit them to the county if unclaimed.

Takes effect July 1, 2020.