Relating to obtaining title to abandoned or junked motor vehicles abandoned on the property or place of business of an automobile dealer

HB 2948 removes a $9,500 loan value limit that previously prevented automobile dealers, licensed auto auctions, repair facilities, and towing companies from obtaining titles for abandoned or junked vehicles left on their property. The bill allows these businesses to secure titles for vehicles of any value that have been abandoned on their premises, eliminating the prior restriction. This change applies after standard notice procedures require owners and lienholders to be notified and given 10 days to reclaim the vehicle. The policy update simplifies title processing for businesses handling abandoned vehicles without altering existing redemption requirements.