S.B. 521                                                    VETOES

Senate Bill No. 521

AN ACT concerning

Vehicle Laws - Salvage Certificates - Insurance Companies

FOR the purpose of requiring an insurance company to apply to the Motor Vehicle
Administration for a salvage certificate for each vehicle titled in the State that is
acquired by the insurance company as a result of a claim settlement arising out of an
accident that occurred in the State; and generally relating to applications for salvage
certificates.

BY repealing and reenacting, with amendments.
Article - Transportation
Section 13-506(c)
Annotated Code of Maryland
(1992 Replacement Volume)                       

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Transportation

13-506.

(c) (1) An insurance company shall apply for a salvage certificate on a form
provided by the Administration FOR EACH VEHICLE TITLED IN THE STATE THAT IS
ACQUIRED AS A RESULT OF A CLAIM SETTLEMENT ARISING FROM AN ACCIDENT
THAT OCCURRED IN THE STATE.                             

(2) The application under paragraph (1) of this subsection shall be
accompanied by;

(i) The certificate of title of the vehicle;

            (ii) A statement by the insurance company that:

1.       The cost to repair the vehicle for highway operation is
greater than the fair market value of the vehicle prior to sustaining the damage for which
the claim was paid;

2.       The cost to repair the vehicle for highway operation is equal
to or less than the, fair market value of the vehicle prior to sustaining the damage for
which the claim was paid;

3.       The vehicle is not rebuildable, will be used for parts only, and
is not to be retitled; or

4.       The vehicle has been stolen; and
(iii) A fee established by the Administration:

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