South Carolina General Assembly
115th Session, 2003-2004

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Bill 478

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COMMITTEE REPORT

March 25, 2003

S. 478

Introduced by Senator Ryberg

S. Printed 3/25/03--S.    [SEC 3/26/03 1:30 PM]

Read the first time March 12, 2003.

            

THE COMMITTEE ON TRANSPORTATION

To whom was referred a Bill (S. 478) to amend Section 56-19-480 of the 1976 Code, relating to the transfer and surrender of a motor vehicle's certificate of title, license plate, registration card, etc., respectfully

REPORT:

That they have duly and carefully considered the same and recommend that the same do pass:

GREG RYBERG for Committee.

            

A BILL

TO AMEND SECTION 56-19-480 OF THE 1976 CODE, RELATING TO THE TRANSFER AND SURRENDER OF A MOTOR VEHICLE'S CERTIFICATE OF TITLE, LICENSE PLATE, REGISTRATION CARD, AND MANUFACTURERS' SERIAL PLATE UNDER CERTAIN CIRCUMSTANCES, SO AS TO PROVIDE THAT, WHEN AN INSURANCE COMPANY OBTAINS TITLE TO A VEHICLE FROM SETTLING A TOTAL LOSS CLAIM, THE INSURANCE COMPANY MAY OBTAIN A TITLE TO THE VEHICLE DESIGNATED AS "SALVAGE".

Be it enacted by the General Assembly of the State of South Carolina:

SECTION    1.    Section 56-19-480(B) of the 1976 Code is amended to read:

"(B)    If a vehicle is acquired by an insurance company in settlement of a claim to the vehicle by fire, flood, collision, or other causes, or is left with the claimant after being declared a total loss by the insurance company, the company or its agent immediately shall deliver to the department the certificate of title together with a report indicating the type and severity of damage to the vehicle. At such time as the insurance company may thereafter transfer the damaged vehicle, the company or its agent shall notify the department to whom the transfer was made on a form prescribed by the department. Notwithstanding another provision of law, when an insurance company obtains title to a vehicle from settling a total loss claim, the insurance company may obtain a title to the vehicle designated as 'salvage'."

SECTION    2.    This act takes effect upon approval by the Governor.

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