35 Miss. Code. R. 7-06-05-201

Insurance Company to Apply for Certificate of Title:

1. An insurance company that becomes the owner of a motor vehicle as a result of paying a total loss claim shall apply to the Department for a salvage title within seventy-two (72) hours after obtaining the insured's certificate of title. Such application shall be made by the insurance company in the manner and in such form prescribed and provided by the Department. In order to obtain a salvage title, the insurance company must:

a. Surrender the current certificate of title and odometer disclosure statement with the title application;

b. Submit documentation to show that the title application is for a salvage vehicle;

c. Submit with the application a signed statement written on company letterhead showing the type of occurrence:

i. collision damage;

ii. hail damage;

iii. flood damage;

iv. recovered theft; or

v. unrecovered theft.

d. Indicate in the statement whether or not the vehicle will require replacement of six (6) minor component parts.

e. Staple this statement to the certificate of title and note on the face of the certificate the type of occurrence.

2. The provisions of this section shall not apply to a vehicle which is ten (10) years old or older with a value prior to the loss of one thousand five hundred dollars ($1,500), or less or which will require the replacement of five (5) or fewer minor component parts in the reconstruction process.

3. If ownership of a salvage vehicle has not been acquired by an insurer, the owner must surrender the certificate of title for such vehicle to a designated agent of the Department prior to any sale or disposition of such vehicle and not later than thirty (30) days from the date that the vehicle becomes a salvage vehicle.

Notes

35 Miss. Code. R. 7-06-05-201

Amended 8/1/2019