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HB 429
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Requires Department of Revenue to notify insurers of any discovered motor vehicle owners and lienholders so that insurers can notify owners and lienholders of their intent to obtain salvage titles or junking certificates
Handler: Wasson
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Current Bill Summary
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- Prepared by Senate Research -
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HB 429 - Under the current law, any insurer which purchases a vehicle that is currently titled in Missouri through the claims adjustment process for which the insurer is unable to obtain a negotiable title, may make application to the Department of Revenue for a salvage certificate of title or junking certificate. This act adds additional consumer protection language to the current law by providing that if the Director of Revenue identifies any additional owner or lienholder who has not been notified by the insurer, the director must inform the insurer of such additional owner or lienholder and the insurer shall notify the additional owner or lienholder of the insured's intent to obtain title as prescribed by law (Section 301.193). This provision is also contained in SB 148 (2013). STEPHEN WITTE
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