TEX TN. CODE ANN. § 501.093 : Texas Statutes - Section 501.093: INSURANCE COMPANY REPORT ON CERTAIN VEHICLES
Search TEX TN. CODE ANN. § 501.093 : Texas Statutes - Section 501.093: INSURANCE COMPANY REPORT ON CERTAIN VEHICLES
(a) If an insurance company pays a claim on a nonrepairable motor vehicle or salvage motor vehicle and the insurance company does not acquire ownership of the motor vehicle, the insurance company shall submit to the department, before the 31st day after the date of the payment of the claim, on the form prescribed by the department, a report stating that the insurance company:
(1) has paid a claim on the motor vehicle; and
(2) has not acquired ownership of the motor vehicle.
(b) The owner of a motor vehicle to which this section applies may not operate or permit operation of the motor vehicle on a public highway or transfer ownership of the motor vehicle by sale or otherwise unless the department has issued a salvage vehicle title or a nonrepairable vehicle title for the motor vehicle or a comparable ownership document has been issued by another state or jurisdiction for the motor vehicle.
(c) Subsection (b) does not apply if:
(1) the department has issued a nonrepairable vehicle title or salvage vehicle title for the motor vehicle; or
(2) another state or jurisdiction has issued a comparable out-of-state ownership document for the motor vehicle.
Added by Acts 1997, 75th Leg., ch. 165, Sec. 30.43(a), eff. Sept. 1, 1997. Renumbered from Transportation Code Sec. 501.0915 and amended by Acts 2003, 78th Leg., ch. 1325, Sec. 17.02, eff. Sept. 1, 2003.