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A BILL TO BE ENTITLED
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AN ACT
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relating to reporting requirements for salvage motor vehicles by |
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insurance companies. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 501.093(a), Transportation Code, is |
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amended to read as follows: |
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(a) If an insurance company pays a claim on a nonrepairable |
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motor vehicle or salvage motor vehicle and the insurance company |
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does not acquire ownership of the motor vehicle, the insurance |
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company shall: |
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(1) submit to the department, before the 31st day |
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after the date of the payment of the claim, on the form prescribed |
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by the department, a report stating that the insurance company: |
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(A) [(1)] has paid a claim on the motor vehicle; |
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and |
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(B) [(2)] has not acquired ownership of the motor |
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vehicle; and |
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(2) provide notice to the owner of the motor vehicle |
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of: |
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(A) the report required under Subdivision (1); |
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and |
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(B) the requirements for operation or transfer of |
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ownership of the motor vehicle under Subsection (b). |
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SECTION 2. This Act takes effect September 1, 2011. |