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§ 11-152. Salvage vehicles

West's Annotated Code of MarylandTransportationEffective: October 1, 2010

West's Annotated Code of Maryland
Transportation
Title 11. Vehicle Laws--Definitions; General Provisions (Refs & Annos)
Subtitle 1. Definitions (Refs & Annos)
Effective: October 1, 2010
MD Code, Transportation, § 11-152
§ 11-152. Salvage vehicles
Currentness
Salvage defined
(a) “Salvage” means any vehicle that:
(1) Has been damaged by collision, fire, flood, accident, trespass, or other occurrence to the extent that the cost to repair the vehicle for legal operation on a highway exceeds 75% of the fair market value of the vehicle prior to sustaining the damage, as determined under § 13-506(c)(4) of this article;
(2) Has been acquired by an insurance company as a result of a claim settlement; or
(3) Has been acquired by an automotive dismantler and recycler:
(i) As an abandoned vehicle, as defined under § 25-201 of this article; or
(ii) For rebuilding or for use as parts only.
Owner retaining possession of vehicle
(b) For purposes of this section, a vehicle has not been acquired by an insurance company if an owner retains possession of the vehicle upon settlement of a claim concerning the vehicle by the insurance company.

Credits

Added by Acts 1977, c. 14, § 2, eff. July 1, 1977. Amended by Acts 1983, c. 543; Acts 1983, c. 685; Acts 1992, c. 635; Acts 2001, c. 327, § 1, eff. July 1, 2001; Acts 2008, c. 422, § 1, eff. Oct. 1, 2008; Acts 2010, c. 728, § 1, eff. Oct. 1, 2010.
Formerly Art. 66 ½, § 1-180.
MD Code, Transportation, § 11-152, MD TRANS § 11-152
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document