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10-10-2012 Council Agenda
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10-10-2012 Council Agenda
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168A.151, 2011 Minnesota Statutes Page 1 of I <br />Coming soon - website redesign! View information about the redesign. <br />2011 Minnesota Statutes <br />168A.151 SALVAGE TITLE; JUNKING CERTIFICATE, <br />..................... <br />Subdivision 1. Salvage; titles. (a) When an insurer, licensed to conduct business in Minnesota, acquires <br />ownership of a late -model or high -value vehicle through payment of damages, the insurer shall immediately <br />apply for a salvage certificate of title or shall stamp the existing certificate of title with the legend " SALVAGE <br />CERTIFICATE OF TITLE" in a manner prescribed by the department. Within 48 hours of taking possession of a <br />vehicle through payment of damages, an insurer must notify the department in a manner prescribed by the <br />department. <br />(b) A person shall immediately apply for a salvage certificate of title if the person acquires a damaged late - <br />model or high -value motor vehicle with an out -of -state title and the vehicle: <br />(1) is a vehicle that was acquired by an insurer through payment of damages; <br />(2) is a vehicle for which the cost of repairs exceeds the value of the damaged vehicle; or <br />(3) has an out -of -state salvage; certificate of title as proof of ownership. <br />(c) A self- insured owner of a late -model or high -value vehicle who sustains damage by collision or other <br />occurrence which exceeds 70 percent of its actual cash value shall immediately apply for a salvage certificate of <br />title. Damage, for the purpose of this calculation, does not include the actual cost incurred to repair, replace, or <br />reinstall inflatable safety restraints and other vehicle components that must be replaced due to the deployment of <br />the inflatable safety restraints. <br />Subd. 2.[Repealed, 1993 c 93 s 20] <br />Subd. 3.[Repealed, 1993 c 93 s 20] <br />Subd. 4. Junking certificate required. When a person acquires ownership of a vehicle that is an <br />unrepairable total loss vehicle, the person shall surrender the assigned certificate of title to the department and <br />apply for a junking certificate of title. <br />Subd. 5.[Repealed, 1993 c 93 s 20] <br />Subd. 6.. Authority under junking certificate. A junking certificate authorizes the holder only to possess <br />and transport the vehicle, except that a salvage pool or insurance company, or its agent, may sell an <br />unrepairable total loss vehicle with a junking certificate to a licensed used parts dealer. <br />History: 1988 c 496 s 19; 1989 c 342 s 14; 1993 c 93 s 9 -11; 2005 c 94 s 2; 2008 c 287 art 1 s 30 <br />22 <br />
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