A bill for an act relating to applications for a motor vehicle salvage certificate of title by an insurer without surrendering the certificate of title or manufacturer’s or importer’s statement of origin, making penalties applicable, and including effective date provisions.

Summary

The bill lets an insurance company apply for a salvage certificate of title for a damaged vehicle even when the original title or manufacturer’s statement of origin has not been surrendered, provided the vehicle’s ownership has been transferred to the insurer in a settlement and certain conditions are met. The insurer must wait 30 days after the settlement, submit an affidavit or supporting documents, pay the required fees, and indemnify the Department of Transportation. Violations can result in a misdemeanor fine or a Class D felony for false statements.

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