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11 U.S.C. § 551 - U.S. Code - Unannotated Title 11. Bankruptcy § 551. Automatic preservation of avoided transfer

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(a) The director of the department of business regulation is authorized and empowered to promulgate rules and regulations which allow re-inspection of ten percent (10%) of all automobile insurance carrier claims after collision damage is repaired. The required percentage shall be reviewed by the department of business regulation on an annual basis.

(b) All automobile repair facilities shall, upon reasonable request by the insurer or consumer, present proof of authenticity through invoices and/or receipts for all new and used collision repair parts excluding price of the part or parts. Insurance carriers shall obtain from auto body repair facilities proof of purchase of the new or used collision repair parts, either by authenticated invoices and/or receipts excluding price.

(c) Each insurance carrier or its agents assigned to or conducting a re-inspection shall be a licensed motor vehicle physical damage appraiser, and shall conduct the inspection in a professional manner consistent with training required to obtain DBR certification or licensing. If body shop testing equipment is required, a fee to be set by the director of the department of business regulation will be paid by the insurance carrier to the body shop.

Cite this article: FindLaw.com - 11 U.S.C. § 551 - U.S. Code - Unannotated Title 11. Bankruptcy § 551. Automatic preservation of avoided transfer - last updated January 01, 2018 | https://codes.findlaw.com/us/title-11-bankruptcy/11-usc-sect-551.html


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