SB 547 - This act revises the definition of salvage motor vehicle and the method for titling vehicles which were previously salvage vehicles.

DEFINITIONS - Salvage vehicles are defined according to the number of primary, major and minor component parts damaged.

TITLING - Prior salvage vehicles shall have the term "Prior Salvage Vehicle" printed upon subsequent original titles issued. Notarized statements shall accompany bills of sale for all primary, major and minor component parts when applying for title. Copies of titles are not required for minor component parts unless they have serial numbers. Special brands are required on titles for all vehicles suffering at least $2500 of fire or water damage. Insurance companies shall provide information to the Department of Revenue when title to a vehicle is acquired under a claim of insurance.

Salvage titles may be reassigned only by registered dealers. Stolen vehicle titles are not negotiable. Neither title may be used to register a vehicle. Upon recovery of a stolen motor vehicle, the insurance company shall obtain either a salvage or original title. A criminal penalty is imposed upon persons failing to apply for a salvage certificate of title.

Any person acquiring or bringing a salvage vehicle into the state shall apply for a salvage certificate of title. The application shall include the type of damage to the vehicle. Vehicles over seven years old must also receive salvage certificates of title. Whenever a salvage vehicle is repaired, the vehicle may be examined, titled and registered as a "Prior Salvage Vehicle".

Motor vehicle dealers shall make a window disclosure if a vehicle is a "Prior Salvage Vehicle". A violation is a Class A misdemeanor. Salvage pool sales shall be open to rebuilders and body shops. The current law requiring titling of previously salvage vehicles is repealed.
MICHAEL HOEFERKAMP