Arkansas Administrative Code › Agency 006 - Department of Finance and Administration › Division 05 - Division of Revenues › Rule 006.05.93-007 - Regulation 1993-2 Damaged Vehicle Title Regulation

Current through Register Vol. 49, No. 6, June, 2024
Pursuant to authority given the Director of the Department of
				Finance and Administration by section 7 of Act 614 of 1993, after the effective
				date of this regulation, an owner of motor vehicle that has incurred water
				damage or physical damage that equals or exceed seventy percent (70%) of its
				average retail value must meet the requirements of regulation for the purposes
				of placing a brand on the face of the certificate of title denoting denoting
				the previous damage if the vehicle is subsequently repaired and
				retitled.
1) Definitions:
(A) "Commissioner" means the Commissioner of
			 Revenues for the Department of Finance and Administration.
(B) "Dealer" means any person or business who
			 sells or offers for sale a motor vehicle after selling or offering for sale
			 five (5) or more motor vehicles in the previous twelve (12) months, or who is a
			 new or used motor vehicle dealer licensed by or with the State of Arkansas.
			 Persons or businesses that operate as salvage vehicle pools or salvage vehicle
			 auctions are not considered to be "dealers" under the provisions of this
			 regulation when selling vehicle parts to a dealer.
(C) "Owner" means an individual, insurance
			 company or other entity with legal title to a motor vehicle subject to the
			 provisions of this regulation.
(D)
			 "Repairer or Rebuilder" means any person, firm or entity that engages in the
			 repairing, rebuilding or reconstructing of any damaged motor vehicle, as
			 defined in this regulation, whether or not such activity is for
			 profit.
(E) "Motor vehicle" means
			 every self-propelled vehicle, upon or by which any person or property is or may
			 be transported upon a street or highway. Such definition shall exclude:
(i) motorcycles, motor-driven cycles, and
			 trucks with an unladen weight of 10,000 pounds or more;
(ii) any motor vehicle that has been damaged
			 to the extent that it is considered junk under the provisions of Ark. Code Ann.
			 §§
										27-14-913,
			 or for which an Arkansas permit to dismantle or an out-of-state junking
			 certificate has been issued;
(iii)
			 any motor vehicle that is more than five (5) model years old. (Using the
			 current calendar year and subtracting five (5) determines the latest model year
			 excluded.)
(F) "Water
			 damage" means damage to a motor vehicle caused by submerging or partially
			 submerging the vehicle in water to the extent that the vehicle was submerged or
			 partially submerged at any water level above the dashboard of the vehicle,
			 regardless of the actual dollar amount of the damage.
(G) "Damaged motor vehicle" means a motor
			 vehicle, as defined in this regulation, that has received:
(i) physical damage that equals or exceeds
			 seventy percent (70%) of the vehicle's average retail value, as listed in the
			 most current issue of any pricing guide that may be approved by the
			 Commissioner for use in determining the percentage of such damage; or
(ii) water damage, as defined in this
			 section.
(H) "Rebuilt or
			 Reconstructed motor vehicle" means a motor vehicle for which a Damaged title,
			 or similar certificate of title issued by another state, has been previously
			 issued, and such motor vehicle has been repaired to the extent that it can be
			 licensed for use on the public streets and highways of this state.
(I) "Damaged title" means an Arkansas
			 certificate of title issued to the owner of a damaged motor vehicle, as defined
			 in this regulation, that bears the notation "DAMAGED" in the remarks section on
			 its face.
(J) "Previous Damage
			 title" means an Arkansas certificate of title issued to the owner of a rebuilt
			 or reconstructed motor vehicle, as defined in this regulation, bearing the
			 notation "PREVIOUS DAMAGE" in the remarks section on its face.
(K) "Declaration of Damage To a Motor
			 Vehicle" means a form, prescribed by the Commissioner, which shall be completed
			 by the owner of a damaged motor vehicle and surrendered to the Commissioner
			 when making application for registration and issuance of a Damaged
			 title.
(L) "Affidavit Of
			 Reconstruction For A Damaged Motor Vehicle" means a form, prescribed by the
			 Commissioner, which shall be completed by a repairer or rebuilder upon his
			 completion of the rebuilding or reconstruction of a damaged motor vehicle, and
			 surrendered to the Commissioner by the owner of such rebuilt or reconstructed
			 motor vehicle when making application for registration and issuance of a
			 Previous Damage title.