Page:United States Statutes at Large Volume 108 Part 2.djvu/264

 108 STAT. 980 PUBLIC LAW 103-272—JULY 5, 1994 to the extent that its fair salvage value plus the cost of repairing the automobile for legal operation on public streets, roads, and highways would be more than the fair market value of the automobile immediately before the event that caused the damage. (8) "salvage yard" means an individual or entity engaged in the business of acquiring or owning salvage automobiles for— (A) resale in their entirety or as spare parts; or (B) rebuilding, restoration, or crushing. (9) "State" means a State of the United States or the District of Columbia. § 30502. National Automobile Title Information System (a) ESTABLISHMENT OR DESIGNATION.—(1) In cooperation with the States and not later than January 31, 1996, the Secretary of Transportation shall establish a National Automobile Title Information System that will provide individuals and entities referred to in subsection (e) of this section with instant and reliable access to information maintained by the States related to automobile titling described in subsection (d) of this section. However, if the Secretary decides that the existing information system meets the requirements of subsections (d) and (e) of this section and will permit the Secretary to carry out this chapter as early as possible, the Secretary, in consultation with the Attorney General, may designate an existing information system as the National Automobile Title Information System. (2) In cooperation with the Attorney General and the States, the Secretary shall ascertain the extent to which title and related information to be included in the system established under paragraph (1) of this subsection will be adequate, timely, reliable, uniform, and capable of assisting in efforts to prevent the introduction or reintroduction of stolen vehicles and parts into interstate commerce. (b) OPERATION.— The Secretary may authorize the operation of the System established or designated under subsection (a)(1) of this section by agreement with one or more States, or bj designating, after consulting with the States, a third party that represents the interests of the States. (c) USER FEES. —Operation of the System established or designated under subsection (a)(1) of this section shall be paid for by user fees and should be self-sufficient and not be dependent on amounts from the United States Government. The amount of fees the operator collects and keeps under this subsection subject to annual appropriation laws, excluding fees the operator collects and pays to an entity providing information to the operator, may be not more than the costs of operating the System. (d) INFORMATION REQUIREMENTS. — The System established or designated under subsection (a)(1) of this section shall permit a user of the System at least to establish instantly and reliably— (1) the validity and status of a document purporting to be a certificate of title; (2) whether an automobile bearing a known vehicle identification number is titled in a particular State; (3) whether an automobile known to be titled in a particular State is or has been a junk automobile or a salvage automobile;

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