ASSEMBLY TRANSPORTATION AND INDEPENDENT AUTHORITIES COMMITTEE

STATEMENT TO

ASSEMBLY, No. 4521

with committee amendments

STATE OF NEW JERSEY

DATED:  JANUARY 25, 2021

      The Assembly Transportation and Independent Authorities Committee reports favorably and with committee amendments Assembly Bill No. 4521.

      As amended and reported, this bill provides that a motor vehicle insurer (insurer), licensed to do business in New Jersey that settles a total loss claim with the owner of a motor vehicle, is not required to submit documentation from the insurer providing proof of power of attorney when submitting an application to the New Jersey Motor Vehicle Commission (MVC) for a motor vehicle certificate of ownership or a salvage certificate of title.  Further, the bill provides that notarization of the signature or electronic signature of the owner of a motor vehicle who has received or is due to receive a total loss settlement from an insurer is not required on a power of attorney or other document supporting an application for a certificate of ownership or salvage certificate of title submitted by an insurer or an agent of an insurer.

COMMITTEE AMENDMENTS

      The committee amended the bill to:

· clarify that notarization of a signature or electronic signature of the owner of a motor vehicle who has received or is due to receive a total loss settlement from an insurer is not required on a power of attorney or other document supporting an application for a certificate of ownership or a salvage certificate of title submitted by an insurer or an agent of an insurer;

· remove a provision providing that the Chief Administrator of the MVC is prohibited from requiring a notarized signature on the certificate of ownership surrender statement under certain circumstances;

· change the effective date of the bill to the first day of the sixth month after enactment; and

· change a reference in the bill from “salvage title” to “salvage certificate of title.”