SB6265 allows insurers to transfer vehicle ownership without notarized signatures and requires reporting of vehicle destruction.

SB6265 modifies the process for transferring vehicle ownership to an insurer after a total loss. It allows the transfer to occur without a notarized signature, permitting electronic signatures and hard copies. The bill also mandates that insurers report vehicle destructions to the Department of Licensing within 15 days, either electronically or by submitting a marked certificate of title. Failure to report within 16 days is a gross misdemeanor. The bill further specifies that the market value threshold for reporting is $6,790, adjusted annually based on the consumer price index.

SB6265 allows insurers to transfer vehicle ownership without notarized signatures and requires reporting of vehicle destruction.

SB6265 modifies the process for transferring vehicle ownership to an insurer after a total loss. It allows the transfer to occur without a notarized signature, permitting electronic signatures and hard copies. The bill also mandates that insurers report vehicle destructions to the Department of Licensing within 15 days, either electronically or by submitting a marked certificate of title. Failure to report within 16 days is a gross misdemeanor. The bill further specifies that the market value threshold for reporting is $6,790, adjusted annually based on the consumer price index.