MS SB2462

Revises notice timeline for towing companies notifying vehicle owners and lienholders from the 10th day to the 7th day following initial tow, via registered mail.

Reduces the period for vehicle owners to pay towing charges before notice of sale is issued from 30 days to 20 days from the initial tow.

Reduces the redemption period after notice of sale from 10 days to 20 days before the towing company may conduct public auction.

Authorizes the Department of Insurance to impose civil penalties of $1,000 for the first violation and $2,000 for subsequent violations for towing companies' failure to make good faith effort to comply with notice requirements.

Takes effect July 1, 2025.