                                 CODE OF VIRGINIA

DEFINITIONS (§ 46.2-1600)

The following words, terms, and phrases when used in this chapter shall have the
meaning ascribed to them in this section, except where the context indicates
otherwise:
		&#8220;Actual cash value,&#8221; as applied to a vehicle, means the retail
cash value of the vehicle prior to damage as determined, using recognized
evaluation sources, either (i) by an insurance company responsible for paying a
claim or (ii) if no insurance company is responsible therefor, by the
Department.
		&#8220;Auto recycler&#8221; means any person licensed by the Commonwealth to
engage in business as a salvage dealer, rebuilder, demolisher, or scrap metal
processor.
		&#8220;Current salvage value,&#8221; as applied to a vehicle, means (i) the
salvage value of the vehicle, as determined by the insurer responsible for
paying the claim, or (ii) if no insurance company is responsible therefor, 25
percent of the actual cash value.
		&#8220;Demolisher&#8221; means any person whose business is to crush, flatten,
bale, shred, log, or otherwise reduce a vehicle to a state where it can no
longer be considered a vehicle.
		&#8220;Diminished value compensation&#8221; means the amount of compensation
that an insurance company pays to a third party vehicle owner, in addition to
the cost of repairs, for the reduced value of a vehicle due to damage.
		&#8220;Independent appraisal firm&#8221; means any business providing cost
estimates for the repair of damaged motor vehicles for insurance purposes and
having all required business licenses and zoning approvals. This term shall not
include insurance companies that provide the same service, nor shall any such
entity be a rebuilder or affiliated with a rebuilder.
		&#8220;Late model vehicle&#8221; means the current-year model of a vehicle and
the five preceding model years, or any vehicle whose actual cash value is
determined to have been at least $10,000 prior to being damaged.
		&#8220;Licensee&#8221; means any person who is licensed or is required to be
licensed under this chapter.
		&#8220;Major component&#8221; means any one of the following subassemblies of
a motor vehicle: (i) front clip assembly, consisting of the fenders, grille,
hood, bumper, and related parts; (ii) engine; (iii) transmission; (iv) rear clip
assembly, consisting of the quarter panels, floor panels, trunk lid, bumper, and
related parts; (v) frame; (vi) air bags; and (vii) any door that displays a
vehicle identification number.
		&#8220;Nonrepairable certificate&#8221; means a document of ownership issued
by the Department for any nonrepairable vehicle upon surrender or cancellation
of the vehicle&#8217;s title and registration or salvage certificate.
		&#8220;Nonrepairable vehicle&#8221; means any vehicle that has been determined
by its insurer or owner to have no value except for use as parts and scrap metal
or for which a nonrepairable certificate has been issued or applied for.
		&#8220;Rebuilder&#8221; means any person who acquires and repairs, for use on
the public highways, two or more salvage vehicles within a 12-month period.
		&#8220;Rebuilt vehicle&#8221; means (i) any salvage vehicle that has been
repaired for use on the public highways or (ii) any late model vehicle that has
been repaired and the estimated cost of repair exceeded 75 percent of its actual
cash value, excluding the cost to repair damage to the engine, transmission, or
drive axle assembly.
		&#8220;Repairable vehicle&#8221; means a late model vehicle that is not a
rebuilt vehicle, but is repaired to its pre-loss condition by an insurance
company and is not accepted by the owner of said vehicle immediately prior to
its acquisition by said insurance company as part of the claims process.
		&#8220;Salvage certificate&#8221; means a document of ownership issued by the
Department for any salvage vehicle upon surrender or cancellation of the
vehicle&#8217;s title and registration.
		&#8220;Salvage dealer&#8221; means any person who acquires any vehicle for the
purpose of reselling any parts thereof or who acquires and sells any salvage
vehicle as a unit except as permitted by subdivision B 2 of § 46.2-1602.
		&#8220;Salvage pool&#8221; means any person providing a storage service for
salvage vehicles or nonrepairable vehicles who either displays the vehicles for
resale or solicits bids for the sale of salvage vehicles or nonrepairable
vehicles, but this definition shall not apply to an insurance company that
stores and displays fewer than 100 salvage vehicles and nonrepairable vehicles
in one location; however, any two or more insurance companies who display
salvage and nonrepairable vehicles for resale, using the same facilities, shall
be considered a salvage pool.
		&#8220;Salvage vehicle&#8221; means (i) any late model vehicle that has been
(a) acquired by an insurance company as a part of the claims process other than
a stolen vehicle or (b) damaged as a result of collision, fire, flood, accident,
trespass, or any other occurrence to such an extent that its estimated cost of
repair, excluding charges for towing, storage, and temporary replacement/rental
vehicle or payment for diminished value compensation, would exceed its actual
cash value less its current salvage value; (ii) any recovered stolen vehicle
acquired by an insurance company as a part of the claims process, whose
estimated cost of repair exceeds 75 percent of its actual cash value; or (iii)
any other vehicle that is determined to be a salvage vehicle by its owner or an
insurance company by applying for a salvage certificate for the vehicle,
provided that such vehicle is not a nonrepairable vehicle.
		&#8220;Scrap metal processor&#8221; means any person who acquires one or more
whole vehicles to process into scrap for remelting purposes who, from a fixed
location, utilizes machinery and equipment for processing and manufacturing
ferrous and nonferrous metallic scrap into prepared grades, and whose principal
product is metallic scrap.
		&#8220;Vehicle&#8221; shall have the meaning ascribed to it in § 46.2-100. A
vehicle that has been demolished or declared to be nonrepairable pursuant to
this chapter shall no longer be considered a vehicle. For the purposes of this
chapter, a major component shall not be considered a vehicle.
		&#8220;Vehicle removal operator&#8221; means any person who acquires a vehicle
for the purpose of reselling it to a demolisher, scrap metal processor, or
salvage dealer.

HISTORY: 1979, c. 401, § 46.1-550.6; 1988, cc. 842, 865; 1989, c. 727; 1992, c.
148; 1993, c. 376; 2000, cc. 123, 235, 257; 2003, c. 304; 2009, c. 664; 2012,
cc. 64, 280; 2015, cc. 33, 177; 2017, c. 277, 342, 362.