South Dakota Codified Laws 32-3-51.20. Insurer or self insurer acquiring ownership of salvage vehicle without salvage vehicle title to surrender certificate of title–Salvage title issued–Rebuilt title
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If an insurer, in settlement of a total loss insurance claim, or self insurer acquires the ownership of any salvage vehicle as defined in § 32-3-51.19 that does not have a salvage vehicle title, the insurer shall within forty-five days following acquisition of the certificate of title of that vehicle, surrender the certificate of title for the vehicle to the department. The department shall promptly issue a title indicating it is a salvage vehicle to the insurer or self insurer. If a vehicle has been branded a salvage vehicle, nothing in this section prohibits a person from obtaining a rebuilt title pursuant to § 32-3-53.
Terms Used In South Dakota Codified Laws 32-3-51.20
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Source: SL 2005, ch 155, § 3; SL 2016, ch 154, § 6.