Regulatory Update | August 2020
Published August 26, 2020 - Written by IAA, Inc.
IAA, Inc. is dedicated to being pro-active when monitoring legislative and regulatory matters that affect our customers and our industry. We believe being engaged with the legislative process is critical to the auto auction industry to promote responsible business conduct and continued healthy expansion. IAA works with lobbyists, insurance companies and other industry participants towards seeing our customers’ needs are met when it comes to legislative matters that may affect the industry.
Adopted Administrative Rules
Alabama Rule 810-5-75-.34, Title Obtained Under Surety Bond
Effective September 14, 2020
The rule was amended to specify that when the owner of a vehicle deemed "salvage" applies for a certificate of title under surety bond, the bond amount must be 50% of the bond amount provided in subsection (2) of this rule. See the rule for more details regarding the bond amount.
Alabama Rule 810-5-75-.40, Requirements for Names and Signatures on Title Applications, Title Assignments and Motor Vehicle Registrations
Effective September 14, 2020
The rule states that in lieu of hand printed names and signatures, an electronic signature is acceptable when authorized by the department. An electronic signature is an electronic sound, symbol, or process attached to or logically associated with a document and executed or adopted by a person with the intent to sign the document. If an electronic signature is provided on a secure certificate of title which includes an odometer disclosure statement, the electronic signature must be provided in accordance with the Federal Truth-in-Mileage Act of 1986 (as amended) and the rules of the National Highway Traffic Safety Administration.
Alabama Rule 810-5-75-.42, Dealer Records Effective September 14, 2020
The department may require designated agents or if applicable, their contracted Title Service Providers to submit title applications and supporting documents electronically. If a title application and supporting documents are submitted electronically, the following requirements will apply: (a) The word "SURRENDERED" must be stamped or printed in bold type across the front of the certificate of title. The designated agent must maintain title documents as provided in paragraph (1) of this rule. (b) The original title application and supporting documents must be maintained by the designated agent for at least one year from the date of the electronic submission of the documents. (c) An electronic copy of the title application and supporting documents must be maintained by the designated agent for at least five years from the date of the electronic submission of the documents.
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