MS SB2603

Amends Section 83-11-551 to allow insurers to direct auction firms or automotive dismantlers to release vehicles to owners or lienholders when the insurer does not take ownership.

Requires auction firms or dismantlers to send notice by certified mail to the owner and lienholder informing them the vehicle is available for pickup and listing any outstanding charges owed.

Allows the owner or lienholder 30 days from the notice date to pick up the vehicle upon payment of applicable charges to the auction firm or dismantler.

Provides that if the vehicle is not picked up within 30 days, it is considered abandoned and the auction firm or dismantler may request a lien-free salvage or parts-only certificate of title from the Department of Revenue.

Changes the timeframe for insurance companies to request salvage certificates of title from 30 days to 15 days after disbursing total loss settlement payments; takes effect July 1, 2021.