§ 31-46-2 - Salvage by insurer.
SECTION 31-46-2
§ 31-46-2 Salvage by insurer. – If the insurance company sells the motor vehicle for any reason, it shall makeapplication for a salvage certificate of title. The division of motor vehiclesshall issue the salvage certificate of title on a form prescribed for by theadministrator of the division of motor vehicles, that shall be of a coloreasily distinguished from the original certificate of title, and shall bear thesame number and information as the original certificate of title. The salvagecertificate of title shall be assigned by the insurance company to a salvagedealer or any other person for use as evidence of ownership upon the sale orother disposition of the salvage motor vehicle, and the title shall beassignable to any other person. The division of motor vehicles shall charge theinsurance company a fee of fifty dollars ($50.00) for the cost of processingeach salvage certificate title.