Minnesota Legislature
SF 3090
as introduced - 90th Legislature (2017 - 2018) Posted on 03/29/2018 04:30pm
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A bill for an act
relating to motor vehicles; modifying the class of vehicles requiring a salvage
certificate of title; amending Minnesota Statutes 2016, section 168A.151,
subdivision 1.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:
Section 1.
Minnesota Statutes 2016, 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 deleted text begin late-model or high-valuedeleted text end 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.
(b) A person shall immediately apply for a salvage certificate of title if the person acquires
a damaged deleted text begin late-model or high-valuedeleted text end 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.