NC H727

Allows insurers to obtain salvage certificates of title without surrendering the original certificate if the vehicle owner fails to deliver it within 30 days of claim payment.

Requires insurers to send certified notice to the owner and lienholder at least 30 days before requesting the Division issue a salvage title form, with the Division's issuance extinguishing all existing liens.

Permits used motor vehicle dealers to obtain salvage titles for abandoned vehicles after sending 30-day notice to owners and lienholders, with all liens extinguished upon title issuance.

Exempts these salvage title transfers from the normal requirement to physically surrender the certificate of title to the Division of Motor Vehicles.

Becomes effective October 1, 2013.