HB 99 -- Salvage Motor Vehicles

Sponsor:  Parson

This bill defines "salvage vehicle" as a motor vehicle,
semitrailer, or house trailer which has been damaged during a
year that is no more than three years after the manufacturer's
model year to the extent that the total cost of repairs to
rebuild or reconstruct the vehicle or trailer to its condition
immediately before it was damaged exceed 80% of the fair market
value of the vehicle or trailer immediately preceding the time it
was damaged or has been declared salvage by an insurance company
as a result of settlement of a claim.  Currently, there are no
model-year restrictions and the vehicle is considered as salvage
if the repairs exceed 75% of the fair market value of the vehicle
or it has been declared salvage by an insurance company as a
result of a settlement of a claim for loss due to damage or
theft.

The total cost of repairs to rebuild or reconstruct a vehicle
will not include hail damage.

Notification to the Department of Revenue of a transfer of
ownership of a vehicle or trailer will not apply to an insurance
company due to a theft or casualty loss.

The bill also requires a purchaser of any vehicle sold for
salvage, dismantling, or rebuilding to apply for a salvage title.
Currently, it is mandatory only for vehicles seven years old or
newer.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:18 am