Text: SF02019                           Text: SF02021
Text: SF02000 - SF02099                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

Senate File 2020

Partial Bill History

Bill Introduced: S.J. 55
Complete Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 321.69, subsections 2 and 3, Code 1999,
  1  2 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 per
  1 13 incident equals at least five thousand dollars or more per
  1 14 incident twenty-five percent of the fair market value of the
  1 15 vehicle, whichever is greater, but does not include normal
  1 16 wear and tear, glass damage, mechanical repairs or electrical
  1 17 repairs that have not been caused by fire, vandalism,
  1 18 collision, weather, falling objects, submersion in water, or
  1 19 flood.  "Damage" does not include the cost of repairing,
  1 20 replacing, or reinstalling tires, lights, batteries,
  1 21 windshields, windows, a sound system, or an inflatable
  1 22 restraint system.  A determination of the amount of damage to
  1 23 a vehicle shall be based on estimates of the retail cost of
  1 24 repairing the vehicle, including labor, parts, and other
  1 25 materials, if the vehicle has not been repaired or on the
  1 26 actual retail cost of repair, including labor, parts, and
  1 27 other materials, if the vehicle has been repaired.  Only
  1 28 individual incidents in which the retail cost of repairs is at
  1 29 least five thousand dollars or more twenty-five percent of the
  1 30 fair market value of the vehicle, whichever is greater, are
  1 31 required to be disclosed by this section.  If the vehicle has
  1 32 incurred sustained damage of at least five thousand dollars or
  1 33 more twenty-five percent of the fair market value of the
  1 34 vehicle, whichever is greater, per incident in more than one
  1 35 incident, the damage amounts must be combined and disclosed as
  2  1 the total of all separate incidents.  For purposes of this
  2  2 section, "fair market value of the vehicle" means the fair
  2  3 market value of the vehicle immediately preceding the
  2  4 incident, as determined by the Kelley blue book. 
  2  5    3.  The damage disclosure statement shall be provided by
  2  6 the transferor to the transferee at or before the time of
  2  7 sale.  However, if the transferor has a salvage certificate of
  2  8 title for the vehicle, the transferor is not required to
  2  9 disclose under this section the total retail cost of repairs
  2 10 to the vehicle during the period of the transferor's ownership
  2 11 of the vehicle.  If the transferor is not a resident of this
  2 12 state the transferee shall not be required to submit a damage
  2 13 disclosure statement from the transferor with the transferee's
  2 14 application for title unless the state of the transferor's
  2 15 residence requires a damage disclosure statement.  However,
  2 16 the transferee shall submit a damage disclosure statement with
  2 17 the transferee's application for title indicating whether a
  2 18 salvage or rebuilt title had ever existed for the vehicle,
  2 19 whether the vehicle had incurred sustained prior damage of at
  2 20 least five thousand dollars or more twenty-five percent of the
  2 21 fair market value of the vehicle, whichever is greater, per
  2 22 incident, and the year, make, and vehicle identification
  2 23 number of the motor vehicle.  The transferee shall not be
  2 24 required to indicate whether the vehicle had incurred
  2 25 sustained prior damage of at least five thousand dollars or
  2 26 more twenty-five percent of the fair market value of the
  2 27 vehicle, whichever is greater, per incident under this
  2 28 subsection if the transferor's certificate of title is from
  2 29 another state and if it indicates that the vehicle is salvaged
  2 30 and not rebuilt or is another state's salvage certificate of
  2 31 title.  
  2 32                           EXPLANATION 
  2 33    This bill amends Code section 321.69, which currently
  2 34 requires the owner of a motor vehicle to make a damage
  2 35 disclosure statement prior to transferring ownership of the
  3  1 motor vehicle if the motor vehicle has sustained $5,000 or
  3  2 more in damage to the vehicle in one incident.  The bill
  3  3 provides instead that such statement must be made if the motor
  3  4 vehicle sustained damage of at least $5,000 or 25 percent of
  3  5 the fair market value of the vehicle, whichever is greater, in
  3  6 one incident.  The bill defines "fair market value of the
  3  7 vehicle", for purposes of Code section 321.69, as the fair
  3  8 market value of the vehicle immediately preceding the
  3  9 incident, as determined by the Kelley blue book.  
  3 10 LSB 5198XS 78
  3 11 nh/cls/14

Text: SF02019                           Text: SF02021
Text: SF02000 - SF02099                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index

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