HF 1145

as introduced - 92nd Legislature (2021 - 2022) Posted on 02/15/2021 02:37pm

A bill for an act
relating to motor vehicles; requiring disclosure of cause of damage on motor vehicle
salvage titles; amending Minnesota Statutes 2020, section 168A.151, subdivision
1.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2020, section 168A.151, subdivision 1, is amended to read:

Subdivision 1.

Salvage titles.

(a) When an insurer, licensed to conduct business in
Minnesota, acquires ownership of a late-model or high-value vehicle through payment of
damages, the insurer shall immediately apply for a salvage certificate of title or shall stamp
the existing certificate of title with the legend "SALVAGE CERTIFICATE OF TITLE" in
a manner prescribed by the department. Within ten days of obtaining the title of a vehicle
through payment of damages, an insurer must notify the department in a manner prescribed
by the department deleted text begin . deleted text end new text begin , which shall identify the nature of the damage to the vehicle, including
whether the damage was due to:
new text end

new text begin (1) flood;
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new text begin (2) hail;
new text end

new text begin (3) fire; or
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new text begin (4) collision.
new text end

(b) A person shall immediately apply for a salvage certificate of title if the person acquires
a damaged late-model or high-value vehicle with an out-of-state title and the vehicle:

(1) is a vehicle that was acquired by an insurer through payment of damages;

(2) is a vehicle for which the cost of repairs exceeds the value of the damaged vehicle;
or

(3) has an out-of-state salvage certificate of title as proof of ownership.

(c) A self-insured owner of a late-model or high-value vehicle that sustains damage by
collision or other occurrence which exceeds 80 percent of its actual cash value shall
immediately apply for a salvage certificate of title.