GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

H	1 

HOUSE BILL 1039

Short Title:  MV Claims/Salvage History.	(Public)

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Sponsors: Representatives Weatherly; Baker, Carpenter, Church, Culp, Fox, Hall, Hill, Kiser, McMahan, Preston, Russell, Saunders, Wilkins and Yongue.

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Referred to:  Transportation, if favorable, Finance.

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April 21, 1997

A BILL TO BE ENTITLED
AN ACT TO REQUIRE THE DIVISION OF MOTOR VEHICLES TO MAINTAIN VEHICLE TITLE RECORDS TO REFLECT INSURANCE CLAIMS AND SALVAGE HISTORY ON ALL MOTOR VEHICLES REGISTERED IN THIS STATE.
The General Assembly of North Carolina enacts:
Section 1.  Chapter 20 of the General Statutes is amended by adding a new section to read:
"§ 20-279.40.  Motor vehicle insurance claims-salvage history file.
(a)	When any vehicle registered in North Carolina is damaged by collision or other occurrence to the extent that:
(1)	A claim equal or exceeding twenty-five percent (25%) of its fair retail market value has been paid on the vehicle by an insurance company doing business in North Carolina; or
(2)	The costs of repairs to the vehicle and rendering the vehicle safe for use on the public streets and highways would equal or exceed twenty-five percent (25%) of its fair retail market value where the owner is self-insured under the provisions of G.S. 20-279.33.
The insurance company or self-insured owner of the vehicle shall report the payment or cost of repair to the Division by the following categories:
(1)	Exceeding twenty-five percent (25%) of fair retail market value;
(2)	Exceeding fifty percent (50%) of fair retail market value; or
(3)	Exceeding seventy-five percent (75%) of fair retail market value.
Repairs shall include parts and labor.  Fair retail market value shall be as found in the NADA Pricing Guide Book or other publication approved by the Commissioner.
(b)	The Division shall maintain a permanent history record of the information to be reported by this section in its Registration and Title Database for a period of 10 years.  The information shall be available to the public for a fee of one dollar ($1.00) per vehicle.
(c)	The Commissioner shall prepare the necessary forms and may adopt rules required to carry out the provisions of this section."
Section 2.  This act becomes effective January 1, 1998.