82R1529 AJZ-D
By: Orr H.B. No. 646
A BILL TO BE ENTITLED
AN ACT
relating to reporting requirements for salvage motor vehicles by
insurance companies.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 501.093(a), Transportation Code, is
amended to read as follows:
(a) If an insurance company pays a claim on a nonrepairable
motor vehicle or salvage motor vehicle and the insurance company
does not acquire ownership of the motor vehicle, the insurance
company shall:
(1) submit to the department, before the 31st day
after the date of the payment of the claim, on the form prescribed
by the department, a report stating that the insurance company:
(A) [(1)] has paid a claim on the motor vehicle;
and
(B) [(2)] has not acquired ownership of the motor
vehicle; and
(2) provide notice to the owner of the motor vehicle
of:
(A) the report required under Subdivision (1);
and
(B) the requirements for operation or transfer of
ownership of the motor vehicle under Subsection (b).
SECTION 2. This Act takes effect September 1, 2011.