The bill amends the Code of West Virginia to enhance the management of vehicle titles, particularly concerning liens and total loss vehicles. It requires financial institutions that record five or more liens in a calendar year to use the Division of Motor Vehicle's electronic lien and title system for all lien actions. The legislation also reduces the waiting period for insurance companies to apply for a title certificate after paying a total loss claim for vehicles not retained by the owner. Additionally, it corrects agency designations and specifies the format for issuing title certificates, allowing electronic records to serve as valid evidence.

Moreover, the bill introduces new provisions for salvage and cosmetic total loss titles, including adjustable fees based on the Consumer Price Index, and clarifies the process for insurance companies and automobile auctions to obtain salvage or nonrepairable vehicle certificates when titles cannot be secured from owners. It establishes penalties for false information in title applications and outlines vehicle owners' responsibilities regarding branding for totaled vehicles. The legislation aims to streamline the vehicle title process, enhance lien management efficiency, and recognizes electronic certificates of title as valid, with a full transition to electronic systems mandated by July 1, 2025.

Statutes affected:
Introduced Version: 17A-4A-1, 17A-4A-2, 17A-4A-2a
Committee Substitute: 17A-4A-1, 17A-4A-2, 17A-4A-2a
Committee Substitute for the Committee Substitute: 17A-4-10, 17A-4A-2, 17A-4A-2a
Engrossed Committee Substitute for the Committee Substitute: 17A-4-10, 17A-4A-2, 17A-4A-2a
Enrolled Version: 17A-4-10, 17A-4A-2, 17A-4A-2a