South Carolina General Assembly
115th Session, 2003-2004

Download This Version in Microsoft Word format

Bill 478

Indicates Matter Stricken
Indicates New Matter


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

Indicates Matter Stricken

Indicates New Matter

RECALLED

May 27, 2003

S. 478

Introduced by Senator Ryberg

S. Printed 5/27/03--H.

Read the first time April 2, 2003.

            

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.    Section 56-19-420(B) of the 1976 Code is amended to read:

"(B) Five dollars of the fee contained in this section must be placed in a special earmarked account by the Comptroller General and must be distributed in the following manner:

(1) the first one million dollars must be allocated annually to the Department of Education and used to support adult education programs; and

(2) the remainder must be allocated to the Department of Public Safety and used to support highway patrol programs."

SECTION    3.    This act takes effect upon approval by the Governor.

----XX----

This web page was last updated on Thursday, June 25, 2009 at 9:55 A.M.