Text: SF02174 Text: SF02176 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 321.69, subsections 2 and 3, Code 1 2 Supplement 1995, are amended to read as follows: 1 3 2. The damage disclosure statement required by this 1 4 section shall, at a minimum, state the total retail dollar 1 5 amount of all damage to the vehicle during the period of the 1 6 transferor's ownership of the vehicle and whether the 1 7 transferor knows if the vehicle was titled as a salvage or 1 8 flood vehicle in this or any other state prior to the 1 9 transferor's ownership of the vehicle. For the purposes of 1 10 this section, "damage" refers to damage to the vehicle caused 1 11 by fire, vandalism, collision, weather, falling objects, 1 12 submersion in water, or flood, where the cost of repair is 1 13threefive thousand dollars or more per incident, but does not 1 14 include normal wear and tear, glass damage, mechanical repairs 1 15 or electrical repairs that have not been caused by fire, 1 16 vandalism, collision, weather, falling objects, submersion in 1 17 water, or flood. "Damage" does not include the cost of 1 18 repairing, replacing, or reinstalling an inflatable restraint 1 19 system. A determination of the amount of damage to a vehicle 1 20 shall be based on estimates of the retail cost of repairing 1 21 the vehicle, including labor, parts, and other materials, if 1 22 the vehicle has not been repaired or on the actual retail cost 1 23 of repair, including labor, parts, and other materials, if the 1 24 vehicle has been repaired. Only individual incidents in which 1 25 the retail cost of repairs isthreefive thousand dollars or 1 26 more are required to be disclosed by this section. If the 1 27 vehicle has incurred damage ofthreefive thousand dollars or 1 28 more per incident in more than one incident, the damage 1 29 amounts must be combined and disclosed as the total of all 1 30 separate incidents. 1 31 3. The damage disclosure statement shall be provided by 1 32 the transferor to the transferee at or before the time of 1 33 sale. If the transferor is not a resident of this state the 1 34 transferee shall not be required to submit a damage disclosure 1 35 statement from the transferor with the transferee's 2 1 application for title unless the state of the transferor's 2 2 residence requires a damage disclosure statement. However, 2 3 the transferee shall submit a damage disclosure statement with 2 4 the transferee's application for title indicating whether a 2 5 salvage or rebuilt title had ever existed for the vehicle, 2 6 whether the vehicle had incurred prior damage ofthreefive 2 7 thousand dollars or more per incident, and the year, make, and 2 8 vehicle identification number of the motor vehicle. 2 9 EXPLANATION 2 10 Current law requires that a damage disclosure statement 2 11 must be completed in order to transfer ownership of a motor 2 12 vehicle. However, only individual incidents in which the 2 13 retail cost of repairs is $3,000 or more are required to be 2 14 disclosed. This bill raises the disclosure amount to $5,000, 2 15 so that if the retail cost of repair is $5,000 or more, a 2 16 disclosure statement must be filed. 2 17 LSB 3824SS 76 2 18 js/sc/14
Text: SF02174 Text: SF02176 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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