For purposes of SDCL 32-5B-4, the trade-in value of a damaged vehicle may include payment made by an insurance company which is intended to cover the damage. Proof of a payment must be provided at the time application for the certificate of title to the replacement vehicle is filed and must be in one of the following forms:

1. (1) A copy of the insurance check with the damaged vehicle identified either on the check or an attached check stub;
2. (2) A copy of the claim settlement; or
3. (3) Any other form of documentation provided by the insurance company that indicates the amount of the insurance payment, identifies the damaged vehicle, and is considered acceptable by the Division of Motor Vehicles.

Source: 19 SDR 42, effective September 29, 1992.

General Authority: SDCL 32-5B-15.

Law Implemented: SDCL 32-5B-4.1.