Legislative Update | December 2019
Published December 18, 2019 - Written by IAA, Inc
IAA, Inc. is dedicated to being pro-active when monitoring legislative and regulatory matters that affect our customers and our industry. We believe being engaged with legislation is critical to the auto auction industry to promote responsible business conduct and continued healthy expansion. IAA works with lobbyists, insurance companies and other industry participants to ensure our customers’ needs are met when it comes to legislative matters that may impact the industry.
Wisconsin Senate Bill 320
Effective February 1, 2020
The new law allows an insurance company to obtain a salvage title when it has paid a total loss claim, but is unable to obtain a certificate of title from the owner. An insurance company taking possession of a salvage vehicle shall give notice to the owner along with payment of the claim to provide the title. Notice may either be provided in person, by certified letter or electronic means. If the previous owner does not provide title within 30 days of receiving notice, the insurance company may apply for a salvage title in its name. The salvage title application should be accompanied by evidence of:
Payment of the claim to the vehicle owner or financial institution. Screenshot or other image showing claim was paid via electronic funds or a transfer is acceptable. If payment was by check, a copy of the cashed check is required.
Affidavit that the provider or its authorized agent on at least 2 occasions requested owner and/or lienholder to provide title in writing via electronic means or certified mail.
NHTSA final rule regarding odometer disclosure
Effective December 31, 2019
Permits states to adopt schemes that allow electronic odometer disclosure statements in conjunction with electronic titling systems associated with the transfer of interests in motor vehicles.
Allows odometer disclosures to be made in a purely electronic environment or by using paper documents that are scanned and converted into electronic form and stored in a state data system.
Requires the disclosure scheme to meet NIST Level 2 security and authentication requirements.
Allows states to use emerging technologies such as blockchain for odometer disclosure and titling.
Requires odometer disclosures until vehicles are 20 years old, beginning with the 2011 model year in 2021.
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