Source: https://law.justia.com/codes/maryland/2013/article-gtr/section-13-506/
Timestamp: 2019-01-22 21:19:02
Document Index: 730626485

Matched Legal Cases: ['§ 13', '§ 13', '§ 13', '§13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13', '§ 13']

§ 13-506 - Salvage vehicles -- Salvage certificate :: 2013 Maryland Code :: US Codes and Statutes :: US Law :: Justia
Justia US Law US Codes and Statutes Maryland Code 2013 Maryland Code TRANSPORTATION § 13-506 - Salvage vehicles -- Salvage certificate
MD Transp Code § 13-506 (2013) What's This?
§13-506.
(a) (1) A salvage certificate shall be issued in accordance with the provisions of this section.
(i) Acquires a salvage vehicle from a source other than an insurance company licensed to insure automobiles in this State;
(ii) Acquires a salvage vehicle by a means other than a transfer of a salvage certificate; and
(c) (1) For each vehicle that is acquired as a result of a claim settlement arising from an accident that occurred in the State, an insurance company or its authorized agent shall apply:
(i) The certificate of title of the vehicle or, if the certificate of title is defective, lost, or destroyed, an affidavit of ownership on a form and in a manner prescribed by the Administration and a copy of the settlement check or other evidence of final payment;
5. The vehicle has been acquired by an insurance company as a result of a claim settlement and the cost to repair the vehicle is 75% or less of the fair market value of the vehicle prior to sustaining the damage for which the claim was paid; and
(d) (1) An automotive dismantler and recycler may apply for a salvage certificate on a form provided by the Administration.
(i) The document through which ownership of the vehicle was acquired; and
(ii) A fee established by the Administration.
(e) The Administration shall maintain records to indicate that a vehicle:
(1) Was transferred as salvage; and
(2) May not be titled or registered for operation in this State except in accordance with §§ 13-506.1 and 13-507 of this subtitle.
(f) The Administration shall establish a fee for:
(1) A duplicate salvage certificate; and
(2) A corrected salvage certificate.
§ 13-506 - 1. Claim settlement on a salvage vehicle
(a) Notification. -- An insurance company shall promptly notify the Administration if:
(1) The company makes a claim settlement on a vehicle that is salvage; and
(2) The owner retains possession of the vehicle.
(b) Notification -- Contents. -- The notice under subsection (a) of this section shall:
(1) Be accompanied by the title to the vehicle and a fee established by the Administration under § 13-117 of this title for a corrected title;
(2) Include the name of the vehicle's owner and a description of the vehicle; and
(3) Include a statement by the insurance company that the salvage certificate bears a notation under § 13-506(c)(2)(ii)1, 2, 3, or 4 of this subtitle.
(c) Procedure on receipt of notice. -- On receipt of the notice under subsection (a) of this section, the Administration shall:
(1) Record that the vehicle has been declared salvage; and
(2) (i) In the case of a repairable vehicle described in § 13-506(c)(2)(ii)1 or 4 of this subtitle, send a notice to the owner of the vehicle that the vehicle registration will be suspended unless the owner submits proof satisfactory to the Administration that the vehicle has been inspected for safety, in compliance with Title 23 of this article, within 90 days of the date of the notice; or
(ii) In the case of a vehicle described in § 13-506(c)(2)(ii)2 of this subtitle:
1. Issue a salvage certificate to the owner of the vehicle; and
2. Send a notice to the owner of the vehicle that the vehicle registration has been suspended and directing that the vehicle's registration plates be returned immediately to the Administration.
(d) New certificate of title. -- In accordance with § 13-507 of this subtitle, after a vehicle described in § 13-506(c)(2)(ii)1 or 4 of this subtitle has been inspected for safety in accordance with Title 23 of this article, the Administration shall issue to the owner a new certificate of title for the vehicle.