Amends TCA Title 55, Chapter 3, Part 2.

This bill authorizes the insurance company to direct the salvage pool operator to release the vehicle to the owner or lienholder if an insurance company requests a salvage pool operator, the primary business of which is the sale of salvage vehicles on behalf of insurers, to take possession of a salvage vehicle that is the subject of an insurance claim and subsequently the insurance company does not take ownership of the vehicle. <br /> <br /> NOTICE<br /> <br /> This bill requires the insurance company to provide the salvage pool operator notice authorizing the salvage pool operator to release the vehicle to the vehicle's owner or lienholder. This notice may be sent via commercial delivery service, electronic mail, or a proprietary electronic system accessed by both the insurance company and the salvage pool operator.<br /> <br /> Upon receiving notice from an insurance company, this bill requires the salvage pool operator to send two notices a minimum of 14 days apart to the owner and any lienholder of the vehicle informing the owner or lienholder that the vehicle is available for pick up within 30 days of the date on which the first notice was sent. Each notice must include an invoice for any outstanding charges owed to the salvage pool operator, and must inform the owner and any lienholder that the owner or lienholder has 30 days from the date of the first notice to pay any applicable charges and pick up the vehicle from the salvage pool operator. This notice must be sent by certified mail or by another commercially available delivery service providing proof of delivery to the address of the owner, and any lienholder, on record with the department of revenue ("department").<br /> <br /> NONRESPONSE TO NOTICE<br /> <br /> This bill provides that, if the owner or lienholder of the vehicle does not pick up the vehicle within 30 days of the date on which the first notice was sent to the owner or a lienholder in accordance with the above provisions, then the vehicle must be considered abandoned, the vehicle's certificate of title is deemed to be assigned to the salvage pool operator, and the salvage pool operator, without surrendering the certificate of title, may request on a form provided by the department that the department issue a lien-free salvage certificate of title for the vehicle. The request must be accompanied by a copy of the notice sent by the insurance company as required by this bill and evidence of delivery of the notices sent to the owner and any lienholder as required in this bill, or evidence that the notices sent to the owner and any lienholder were returned as undeliverable. <br /> <br /> LIEN-FREE SALVAGE CERTIFICATE OF TITLE<br /> <br /> This bill provides that, notwithstanding any outstanding liens against the vehicle, upon the department's receipt of any fee charged for a lien-free salvage certificate of title and a request for such title meeting the requirements of this bill, the department must issue a lien-free salvage certificate of title for the vehicle to the salvage pool operator in possession of the vehicle. <br /> <br /> ON FEBRUARY 12, 2024, THE SENATE SUBSTITUTED HOUSE BILL 1648 FOR SENATE BILL 1730, ADOPTED AMENDMENT #1, AND PASSED HOUSE BILL 1648, AS AMENDED.<br /> <br /> AMENDMENT #1 limits the requirement that an insurance company must provide the salvage pool operator notice authorizing the operator to release the vehicle to the vehicle's owner or lienholder only if the insurance company directs the operator to release the vehicle to the vehicle's owner or lienholder.<br />