Arkansas Administrative Code › Agency 006 - Department of Finance and Administration › Division 05 - Division of Revenues › Rule 006.05.07-007 - Rule 2007-8: Salvage, Rebuilt & Parts Only Vehicle

Current through Register Vol. 49, No. 6, June, 2024
This rule is promulgated by the Director of the Department of
				Finance and Administration to administer the provisions of Act 410 of 2007
				pursuant to the authority of Ark. Code Ann. §
								27-14-2301
				through Ark. Code Ann. §
								27-14-2305
				as amended by Act 410 of 2007.
1.
Definitions
. For purposes of this rule, unless
			 otherwise required by their context, the following definitions apply:
A. "Affidavit of Reconstruction" means a
			 form, prescribed by the Commissioner, which shall be completed by a repairer or
			 rebuilder upon 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 rebuilt title as defined herein.
B. "Commissioner" means the means the
			 Director of the Department of Finance and Administration acting in his capacity
			 as Commissioner of Motor Vehicles in this state.
C
(i)
			 "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.
(ii) Persons or businesses that operate as
			 salvage vehicle pools or salvage vehicle auctions are not dealers for purposes
			 of this rule when selling vehicle parts to a dealer.
D. "Declaration of Damage" means a form,
			 prescribed by the Commissioner, which shall be completed by the owner or
			 insurer of a salvage vehicle, as defined herein, which is submitted to the
			 Commissioner by the owner when making application for registration and issuance
			 of a salvage title or, for an insurer not taking title to the salvage vehicle,
			 within 30 days of indemnifying the owner for loss.
E
(i)
			 "Motor vehicle" means every self-propelled vehicle, except motorcycles,
			 motor-driven cycles, and trucks with an unladen weight of ten thousand pounds
			 (10,000 lbs.) or more, in, upon, or by which any person or property is or may
			 be transported upon a street or highway.
(ii) "Motor vehicle" does not include,
			 motorcycles, motor-driven cycles, trucks with an unladen weight of 10,000
			 pounds or more, 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 intent to dismantle form has been submitted or an
			 out-of-state junking certificate has been issued and any motor vehicle that is
			 more than seven (7) model years old prior to the year of occurrence.
			 (Subtracting 8 from the current calendar year will determine the latest model
			 year excluded.)
F.
			 "Occurrence" means the event which caused the motor vehicle to become damaged
			 and includes, without limitation, collision, theft, vandalism, storm and
			 flood.
G. "Office of Motor Vehicle"
			 or "Office" means the Office of Motor Vehicle of the Revenue Division of the
			 Department of Finance and Administration.
H. "Owner" means an individual, insurance
			 company, or other entity with legal title to the motor vehicle.
I. "Parts only title" means an Arkansas
			 certificate of title issued to the owner of a vehicle that has no resale value
			 except as a source for parts or scrap that bears the notation "PARTS ONLY" and
			 "Not for Registration".
J. "Rebuilt
			 or reconstructed motor vehicle" means a motor vehicle for which a salvage,
			 damaged, water-damaged, reconstructed, rebuilt or other similar certificate of
			 title 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.
K. "Rebuilt title"
			 means an Arkansas certificate of title issued to the owner of a rebuilt or
			 reconstructed motor vehicle, as defined herein, that bears the notation
			 "REBUILT" printed in the remarks section on the face of the title.
L. "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.
M. "Salvage
			 title" means an Arkansas certificate of title issued to the owner of a salvage
			 vehicle, as defined herein, that bears the notation "SALVAGE" printed in the
			 remarks section on the face of the title.
N. "Salvage vehicle" means a motor vehicle
			 which is water-damaged as defined in this rule or sustains any other damage in
			 an amount equal to or exceeding seventy percent (70%) of its average retail
			 value, as listed in the most current issue of any pricing guide approved by the
			 Commissioner for use in determining the percentage of such damage.
O. "Water-damaged" 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.