Bill Status of HB3712 96th General Assembly
Short Description: VEH CD-SALVAGE CERTIFICATE
Rep. John D'Amico
| 1/11/2011||House||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Illinois Vehicle Code. Reorganizes the language of a provision concerning motor vehicle salvage titles by deleting and adding the same language in different locations. Provides that upon payment of damages on a total loss claim for theft of a vehicle, the Secretary of State may issue an unbranded certificate of title to an insurance company in the insurer's name if the insurer (i) has made a payment of damages on a total loss claim for the theft of a vehicle and (ii) has delivered or mailed the certificate of title along with proper application and fee to the Secretary of State within 20 days (rather than providing no affirmative requirement to apply to the Secretary of State). Provides that if the vehicle is later recovered and has incurred damage that initially would have caused the vehicle to be declared a total loss by the insurer, then a salvage title must be applied for by the insurance company within 20 days of the recovery of the vehicle (rather than providing no specified time requirement for application). Provides that when a vehicle of a self-insured company is to be sold in-State and has sustained damaged by collision, fire, theft, rust corrosion, or other means so that the self-insured company determines the vehicle to be a total loss, or if the cost of repairing the damage, including labor, would be greater than 33 1/3% (rather than 50%) of its fair market value without that damage, the vehicle shall be considered salvage. Effective January 1, 2010.