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CS/SB 1350 — Salvage
by Transportation Committee and Senator DiCeglie
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Transportation Committee (TR)
The bill relates to salvage motor vehicles, mobile homes, and vessels. Specifically, the bill:
- Defines the term “major component parts” for electric, hybrid, and plug-in hybrid motor vehicles for the purpose of verifying the sources of these parts during the rebuilt inspection process.
- Requires, if the owner maintains possession of a total loss motor vehicle or mobile home that the owner or insurance company notify the Department of Highway Safety and Motor Vehicles (DHSMV), and DHSMV must issue a salvage certificate of title or a certificate of destruction directly to the owner of such motor vehicle or mobile home.
- Clarifies that a certificate of title may be paper or electronic.
- Provides that as an alternative for the insurance company having received a release of all liens, it may pay the amount due to the lienholder and obtain proof that the lienholder accepts payment as satisfying the amount due to the lienholder.
- Clarifies that attempts to contact the owner or lienholder must be to the owner or lienholder’s last known address.
- Adds that the request to the owner for the assignment of title, in lieu of the certificate of title, must include a complete description of the motor vehicle or mobile home and that a total loss claim has been paid on the motor vehicle or mobile home.
- Provides that DHSMV is not liable and may not be held liable to an owner, lienholder, or any other person as a result of the issuance of a salvage certificate of title or a certificate of destruction.
- Incorporates vessels into the definition of the term “independent entity” for purposes of incorporating vessels into the salvage certificate of title statute.
- Incorporates damaged or dismantled vessels to the salvage statute and provides procedures for the release and application for titling by an independent entity in possession of the vessel.
- Requires that an application for a certificate of title for a hull damaged vessel indicate that such vessel is hull damaged.
- Provides that the independent entity is not required to notify the National Motor Vehicle Title Information System before releasing any damaged or dismantled vessel to the owner or before applying for a certificate of title.
- Reenacts statutes relating to the sale of specified motor vehicles and the rebuilt motor vehicle inspection program to incorporate changes to the definition of “major component parts.”
If approved by the Governor, or allowed to become law without the Governor’s signature, these provisions take effect July 1, 2024.
Vote: Senate 37-0; House 114-0