This bill proposes several updates to the current statutes regarding salvage vehicles. It introduces new requirements for insurance companies and salvage auction dealers, including the obligation for insurance companies to notify salvage auction dealers when they do not obtain a vehicle's certificate of title due to claim denial or other reasons. The bill mandates that the notice can be delivered through various methods, such as commercial delivery services or electronic systems. Upon receiving this notice, the salvage auction dealer must inform the vehicle owner or lienholder about the vehicle's availability for pickup and any outstanding charges.

Additionally, if the vehicle is not picked up and fees are unpaid within specified timeframes, it will be deemed abandoned, and the title will be assigned to the salvage auction dealer. The dealer can then request a salvage certificate of title without surrendering the original title, provided they meet certain conditions, including submitting proof of notice delivery. The bill also clarifies definitions related to salvage vehicles and salvage auction dealers, ensuring that the updated processes are clearly defined and enforceable.

Statutes affected:
Introduced Version: 28-2099
House Engrossed Version: 28-2099