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PAG LIN 1 1 Section 1. Section 321.52, subsection 4, paragraph a, Code 1 2 1995, is amended to read as follows: 1 3 a. Avehicle rebuilder or a person engaged in the business1 4of buying, selling, or exchanging vehicles of a type required1 5to be registered in this state, upon acquisition of aperson 1 6 who acquires a wrecked or salvage vehicle, shall surrender the 1 7 certificate of title or manufacturer's or importer's statement 1 8 of origin properly assigned, together with an application for 1 9 a salvage certificate of title to the county treasurer of the 1 10 county of residence of the purchaser or transferee within 1 11 fifteen days after the date of assignment of the certificate 1 12 of title for the wrecked or salvage motor vehicle. This 1 13 subsection applies only to vehicles with a fair market value 1 14 of five hundred dollars or more, based on the value before the 1 15 vehicle became wrecked or salvage. Upon payment of a fee of 1 16 two dollars, the county treasurer shall issue a salvage 1 17 certificate of title which shall bear the word "SALVAGE" 1 18 stamped or printed on the face of the title in a manner 1 19 prescribed by the department. A salvage certificate of title 1 20 may be assigned to an educational institution, a new motor 1 21 vehicle dealer licensed under chapter 322, a person engaged in 1 22 the business of purchasing bodies, parts of bodies, frames or 1 23 component parts of vehicles for sale as scrap metal, a salvage 1 24 pool, or an authorized vehicle recycler licensed under chapter 1 25 321H. An authorized vehicle recycler licensed under chapter 1 26 321H or a new motor vehicle dealer licensed under chapter 322 1 27 may assign a salvage certificate of title to any person. A 1 28 vehicle on which ownership has transferred to an insurer of 1 29 the vehicle, as a result of a settlement with the owner of the 1 30 vehicle arising out of damage to, or unrecovered theft of the 1 31 vehicle, shall be deemed to be a wrecked or salvage vehicle 1 32 and the insurer shall comply with this subsection to obtain a 1 33 salvage certificate of title within fifteen days after the 1 34 date of assignment of the certificate of title of the vehicle. 1 35 Sec. 2. Section 321.69, subsection 5, 7, and 9, Code 1995, 2 1 are amended to read as follows: 2 2 5. Authorized vehicle recyclers and salvage pools licensed 2 3 under chapter 321H and motor vehicle dealers licensed under 2 4 chapter 322 shall maintain copies of all damage disclosure 2 5 statements where the recycler, salvage pool, or dealer is 2 6 either the transferor or the transferee for five years 2 7 following the date of the statement. The copies shall be made 2 8 available to the department or the attorney general upon 2 9 request. 2 10 7. A person, authorized vehicle recycler or salvage pool 2 11 licensed under chapter 321H, or motor vehicle dealer licensed 2 12 under chapter 322 shall not be liable to a subsequent owner of 2 13 a vehicle because a prior owner gave a false or inaccurate 2 14 damage disclosure statement or failed to disclose that the 2 15 vehicle had previously been damaged and repaired or had been 2 16 titled on a salvage or rebuilt certificate of title unless the 2 17 person, recycler, salvage pool, or dealer knew or reasonably 2 18 should have known that the prior owner gave a false or 2 19 inaccurate damage disclosure statement or failed to disclose 2 20 that the vehicle had been damaged and repaired or had been 2 21 titled on a salvage or rebuilt certificate of title. 2 22 9. A person who knowingly makes a false damage disclosure 2 23 statement commits a fraudulent practice. Failure of a person, 2 24 authorized vehicle recycler or salvage pool licensed under 2 25 chapter 321H, or motor vehicle dealer licensed under chapter 2 26 322, to comply with any duty imposed by this section 2 27 constitutes a violation of section 714.16, subsection 2, 2 28 paragraph "a". 2 29 Sec. 3. Section 321H.2, subsection 3, Code 1995, is 2 30 amended to read as follows: 2 31 3. "Extension" means a place of businessof an authorized2 32vehicle recyclerother than the principal place of business 2 33 within the county of the principal place of business. 2 34 Sec. 4. Section 321H.2, Code 1995, is amended by adding 2 35 the following new subsection: 3 1 NEW SUBSECTION. 4A. "Salvage pool" means the business of 3 2 selling at auction wrecked or salvage vehicles, as defined in 3 3 section 321.52. 3 4 Sec. 5. Section 321H.4, subsection 1, Code 1995, is 3 5 amended by striking the subsection and inserting in lieu 3 6 thereof the following: 3 7 1. Upon initial application or renewal and payment of a 3 8 fee, a person may apply for a license to engage in business as 3 9 an authorized vehicle recycler or a salvage pool. A person 3 10 may be issued a license to engage in business as both an 3 11 authorized vehicle recycler and a salvage pool if the 3 12 businesses are operated as separate entities. A person who 3 13 applies for an authorized vehicle recycler license may apply 3 14 to engage in business as a vehicle rebuilder, a used vehicle 3 15 parts dealer, or a vehicle salvager. 3 16 Sec. 6. Section 321H.4, subsection 2, unnumbered paragraph 3 17 1, Code 1995, is amended to read as follows: 3 18 Application for a licenseas an authorized vehicle recycler3 19 under this chapter shall be made to the department on forms 3 20 provided by the department. The application shall be 3 21 accompanied by a fee of seventy dollars for a two-year 3 22 license, one hundred forty dollars for a four-year license, or 3 23 two hundred ten dollars for a six-year license. The license 3 24 shall be approved or disapproved within thirty days after 3 25 application for the license. A license is valid for two 3 26 years, four years, or six years and expires on the last day of 3 27 the last month of the two-year, four-year, or six-year period, 3 28 as applicable. A separate license shall be obtained for each 3 29 county in which an applicant conducts operations. 3 30 EXPLANATION 3 31 Section 321.52, subsection 4, paragraph "a", is amended to 3 32 require that anyone who acquires a wrecked or salvage vehicle 3 33 must obtain a salvage title for the vehicle within 15 days of 3 34 transfer of the certificate of title. This requirement 3 35 applies only to vehicles with a fair market value of $500 or 4 1 more, based on the value of the vehicle before it became 4 2 wrecked or salvage. 4 3 Chapter 321H is amended to require that persons operating 4 4 salvage pools must obtain a license. The bill defines salvage 4 5 pool to mean the business of selling at auction wrecked or 4 6 salvage vehicles. The bill provides that a person may operate 4 7 as a salvage pool and as an authorized vehicle recycler if the 4 8 businesses are operated as separate entities. A person who 4 9 violates a provision of chapter 321H is guilty of a simple 4 10 misdemeanor which is punishable by up to 30 days' imprisonment 4 11 or a fine of at least $50 but not to exceed $100. The bill 4 12 makes other changes to the Code which are related to adding a 4 13 salvage pool licensing requirement. 4 14 LSB 2325SV 76 4 15 js/cf/24
Text: SF00235 Text: SF00237 Text: SF00200 - SF00299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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