Minnesota HF1406 establishes notice requirements for salvage vehicle auctions and allows insurers to apply for vehicle titles when acquiring vehicles.

Minnesota HF1406 mandates that auction companies send two notices to vehicle owners and lienholders when a vehicle is available for recovery, with each notice sent at least 14 days apart. If the vehicle remains unrecovered within 30 days, it is deemed abandoned, and the auction company can request a new title. Insurers are authorized to apply for vehicle titles when they acquire vehicles through payment of damages, provided they notify the owner and any lienholders. The bill also outlines procedures for the commissioner to issue a new title, extinguishing any existing liens.

Minnesota HF1406 establishes notice requirements for salvage vehicle auctions and allows insurers to apply for vehicle titles when acquiring vehicles.

Minnesota HF1406 mandates that auction companies send two notices to vehicle owners and lienholders when a vehicle is available for recovery, with each notice sent at least 14 days apart. If the vehicle remains unrecovered within 30 days, it is deemed abandoned, and the auction company can request a new title. Insurers are authorized to apply for vehicle titles when they acquire vehicles through payment of damages, provided they notify the owner and any lienholders. The bill also outlines procedures for the commissioner to issue a new title, extinguishing any existing liens.