Transfers ownership of a vehicle to an insurer under certain circumstances.

This bill allows the transfer of vehicle ownership to an insurer under specific conditions. It mandates that the registered owner or legal owner report the destruction of a vehicle to the department within 15 days, submitting the certificate of title marked "DESTROYED." The insurer must report the destruction or total loss of vehicles within 15 days, regardless of the jurisdiction. The bill also specifies that supporting documents for transferring ownership to an insurer do not require a notarized signature and may be signed electronically.

Transfers ownership of a vehicle to an insurer under certain circumstances.

This bill allows the transfer of vehicle ownership to an insurer under specific conditions. It mandates that the registered owner or legal owner report the destruction of a vehicle to the department within 15 days, submitting the certificate of title marked "DESTROYED." The insurer must report the destruction or total loss of vehicles within 15 days, regardless of the jurisdiction. The bill also specifies that supporting documents for transferring ownership to an insurer do not require a notarized signature and may be signed electronically.