CHAPTER 57
FORMERLY
SENATE BILL NO. 96
AS AMENDED BY SENATE AMENDMENT NO. 1
AN ACT TO AMEND TITLE 21 OF THE DELAWARE CODE REGARDING TRANSFER OF SALVAGE TITLES.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend §2512, Chapter 25, Title 21 of the Delaware Code by renumbering paragraphs "(b)," "(c)," and "(d) therein as paragraphs "(c)," "(d)" and "(e)" respectively and by adding thereto a new paragraph "(b)" to read as follows:
"(b) If the owner of any registered or unregistered motor vehicle, for which a title has been issued by the Department, receives a total loss insurance settlement for the vehicle, and chooses to retain ownership of the vehicle as owner retained salvage, the insurance company shall either comply with the requirements in paragraph "(a)" of this section, or require the owner of the vehicle to procure a salvage certificate from the Department prior to paying the total loss insurance settlement."
Section 2. Amend §2512, Title 21 of the Delaware Code by adding a new paragraph (f) to read as follows:
"(f) The record keeping requirements outlined in this section shall be applicable to scrap processors, salvage dealers, junk dealers and insurance companies or their authorized agents. The record keeping requirement, and penalties for failure to maintain such records, shall not apply to individual owners who choose to retain ownership of their total loss vehicle as owner retained salvage."
Approved June 16, 1997