A. For purposes of this section, “bailee” means the same as that term is defined in § 46.2-644.03.
B. A bailee may relinquish a lien acquired under § 46.2-644.01 or 46.2-644.02, provided that (i) the Department has completed a vehicle record search pursuant to subsection C of § 46.2-644.03 and determined that no lien exists on the vehicle record, whether held by the Department or another state, and (ii) the vehicle owner has not reclaimed the vehicle as provided for in § 46.2-644.01 or 46.2-644.02. Such relinquishment shall permit the bailee to transfer possession of the vehicle to an unaffiliated tow truck driver, towing and recovery operator, or keeper of a garage, whose business is located within the same locality as the bailee.
C. Any lien relinquishment hereunder shall be reported to the Department by the bailee on a form and in a manner prescribed by the Commissioner within five business days of the transfer of possession of the vehicle. Such form shall include (i) the make, model, model year, and vehicle identification number of the vehicle; (ii) the name and address of the bailee; (iii) the name and address of the person or entity receiving the vehicle; and (iv) the date of transfer of possession. Upon receipt of the relinquishment form, the Department shall note such relinquishment on the vehicle record and notify the owner by first-class mail at the last known address of record that the bailee has relinquished the lien and transferred possession of the vehicle. The Department shall collect a $5 administrative fee for this process from the bailee. Such fee shall be paid into the state treasury and set aside as a special, nonreverting fund to be used to meet the expenses of the Department.
D. Upon taking possession of a vehicle for which a lien has been relinquished pursuant to this section, a towing and recovery operator or keeper of a garage shall have a lien on the vehicle in accordance with § 46.2-644.01 and all enforcement provisions applicable to such lien shall remain in place. No other relinquishment may take place under this section for the same vehicle until the lien created under this subsection is enforced pursuant to this article and the vehicle titled to a new owner.