Virginia Code 46.2-1604: Rebuilders required to possess certificate of title or salvage certificate
Current as of: 2024 | Check for updates
|
Other versions
Each rebuilder shall have in his possession a certificate of title or salvage certificate assigned to him for each vehicle in his inventory for resale. If a rebuilder purchases a salvage vehicle to be used or sold for parts only, he shall conspicuously indicate on the salvage certificate that the vehicle will be sold or used as parts only and immediately forward the salvage certificate to the Department for cancellation. The Department shall issue a nonrepairable certificate for that vehicle.
Terms Used In Virginia Code 46.2-1604
- Nonrepairable certificate: means a document of ownership issued by the Department for any nonrepairable vehicle upon surrender or cancellation of the vehicle's title and registration or salvage certificate. See Virginia Code 46.2-1600
- Rebuilder: means any person who acquires and repairs, for use on the public highways, two or more salvage vehicles within a 12-month period. See Virginia Code 46.2-1600
- Salvage certificate: means a document of ownership issued by the Department for any salvage vehicle upon surrender or cancellation of the vehicle's title and registration. See Virginia Code 46.2-1600
- Salvage vehicle: means (i) any late model vehicle that has been (a) acquired by an insurance company as a part of the claims process other than a stolen vehicle or (b) damaged as a result of collision, fire, flood, accident, trespass, or any other occurrence to such an extent that its estimated cost of repair, excluding charges for towing, storage, and temporary replacement/rental vehicle or payment for diminished value compensation, would exceed its actual cash value less its current salvage value; (ii) any recovered stolen vehicle acquired by an insurance company as a part of the claims process, whose estimated cost of repair exceeds 75 percent of its actual cash value; or (iii) any other vehicle that is determined to be a salvage vehicle by its owner or an insurance company by applying for a salvage certificate for the vehicle, provided that such vehicle is not a nonrepairable vehicle. See Virginia Code 46.2-1600
- Vehicle: means every device in, on or by which any person or property is or may be transported or drawn on a highway, except personal delivery devices and devices moved by human power or used exclusively on stationary rails or tracks. See Virginia Code 46.2-100
1979, c. 401, § 46.1-550.9; 1989, c. 727; 1992, c. 148; 2017, c. 277.