SENATE BILL 933
48th legislature - STATE OF NEW MEXICO - first session, 2007
INTRODUCED BY
James G. Taylor
AN ACT
RELATING TO MOTOR VEHICLES; PROVIDING FOR SALE OF SALVAGE VEHICLES TO LICENSED DEALERS OR AUTO RECYCLERS.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO:
Section 1. Section 66-3-10.1 NMSA 1978 (being Laws 2005, Chapter 324, Section 8) is amended to read:
"66-3-10.1. SALVAGE VEHICLES--NONREPAIRABLE VEHICLES--CERTIFICATE OF TITLE--TRANSFER OF OWNERSHIP.--
A. It is unlawful for a salvage auction to sell or otherwise convey ownership of a salvage vehicle to a person that is not a licensed dealer or auto recycler.
[A.] B. It is unlawful for a person to sell or otherwise convey ownership of a salvage or nonrepairable vehicle unless the certificate of title or ownership is branded or a comparable title, certificate or ownership document has been issued by another state or jurisdiction.
[B.] C. An owner of a nonrepairable vehicle shall sell or otherwise convey that vehicle only to a licensed wrecker of vehicles or a person licensed by a jurisdiction outside of this state to process vehicles by dismantling, wrecking, shredding, crushing or selling motor vehicle parts or scrap material or otherwise disposing of motor vehicles.
[C.] D. A nonrepairable vehicle shall not be repaired, reconstructed or restored for operation on the roads or highways of this state.
[D.] E. This section does not apply to:
(1) a person whose motor vehicle has been stolen or taken without that person's consent unless, if the motor vehicle is recovered, it is a salvage or nonrepairable vehicle; or
(2) a person conveying ownership of a motor vehicle to an insurance company as a result of a total loss insurance settlement. For the purpose of this paragraph, "total loss insurance settlement" means the transfer of ownership of a motor vehicle by a person to an insurance company as a result of a settlement in which the motor vehicle is determined to be salvage or nonrepairable."
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