Section 1862 - Left with an independent entity1.Release of vehicle. An insurance company, financial institution or dealer may direct an independent entity that obtains possession of a vehicle to release the vehicle to the owner. The insurance company, financial institution or dealer shall provide the independent entity a release statement under subsection 2 authorizing the independent entity to release the vehicle to the vehicles owner. [2011, c. 88, §2(NEW).]
2.Release statement. A release statement authorizing an independent entity under subsection 1 to release a vehicle to a vehicles owner must be on a form prescribed by the bureau and contain the following information:A. The insurance policy and claim number relating to the vehicle; [2011, c. 88, §2(NEW).]B. The name and address of the insured owner of the vehicle; [2011, c. 88, §2(NEW).]C. The vehicle identification number and description of the vehicle; and [2011, c. 88, §2(NEW).]D. The signature of an authorized representative of the insurance company, financial institution or dealer. [2011, c. 88, §2(NEW).] [2011, c. 88, §2(NEW).]
3.Notice to owner. Upon receiving a release statement concerning a vehicle from an insurance company, financial institution or dealer under subsection 1, an independent entity shall send a notice to the owner of the vehicle that the vehicle is available for pickup by the owner. The notice must contain an invoice for any outstanding charge owed the independent entity, including an initial towing or storage charge paid to a 3rd party, and inform the owner that the owner has 30 days from the date of the postmark on the notice to pick up the vehicle from the independent entity. A notice under this subsection must be sent by first class mail to the owners address on record with the bureau. [2011, c. 88, §2(NEW).]
4.Abandonment. If the owner of a vehicle does not pick up the vehicle within 30 days after notice was sent to the owner pursuant to subsection 3, the vehicle is considered abandoned and the independent entity may apply for a certificate of title or certificate of salvage as set forth in this subchapter. The independent entity shall provide the bureau with a copy of the release statement under subsection 1, proof of notice under subsection 3 and any other supporting documentation and fees as determined necessary by the bureau with the application for certificate of title or certificate of salvage. [2011, c. 88, §2(NEW).]
5.Rules. The bureau may adopt rules to carry out the purposes of this section. Rules adopted under this subsection are routine technical rules pursuant to Title 5, chapter 375, subchapter 2-A. [2011, c. 88, §2(NEW).]
Added by 2011, c. 88,§ 2, eff. 9/28/2011.