Current through Register Vol. XLI, No. 24, June 14, 2024
Section 91-3-5 - Title Clearinghouse5.1. The West Virginia Title Clearinghouse is the statutorily authorized program within the Division of Motor Vehicles for the issuance of motor vehicle titles and registrations to qualified non-resident businesses.5.2. Application. A non-resident business may complete an application to become a participant in the Title Clearinghouse on a form and in a manner prescribed by the Commissioner of the Division of Motor Vehicles.5.2.1. The initial application will authorize an approved applicant to participate in the Title Clearinghouse for one year.5.2.2. A participant in good standing may apply for renewed participation annually.5.3. Requirements. Non-resident businesses must meet and maintain the requirements set forth in statute, this rule and policy of the Division of Motor Vehicles. Notwithstanding a non-resident business meeting the requirements herein, the Division of Motor Vehicles may deny participation in the Title Clearinghouse for any reason or for no reason.5.3.1. The non-resident business making an application for participation in the Title Clearinghouse must be headquartered in the United States.5.3.2. The non-resident business must process a minimum number of annual vehicle transactions through the Title Clearinghouse as determined by the Commissioner of the Division of Motor Vehicles.5.3.3. All state and federal licenses required of the non-resident business by the federal government or any state government in which the business resides or does business must be valid and in good standing.5.3.4. The non-resident business must maintain liability insurance which covers transactions submitted through the Title Clearinghouse.5.3.5. The non-resident business must meet technical and program standards set by the Division of Motor Vehicles.5.3.6. The non-resident business and its officers must meet any background check required by the Division of Motor Vehicles.5.4. Penalty Bond. The non-resident business must submit a $250,000 penalty bond on a form prescribed by the Commissioner of the Division of Motor Vehicles from a West Virginia licensed insurer made payable to the West Virginia Division of Motor Vehicles in accordance with W. Va. Code § 17A-4-11. In the event payment of this bond is triggered, the non-resident business will not be relieved of liability to the injured party by payment of the penalty to the Division of Motor Vehicles, and the injured party must be made whole by the non-resident business before that business will be considered eligible to remain in the program or eligible to participate in the program again if removed.5.5. Fees. All fees are nonrefundable, must be submitted at the time of service and deposited in the Motor Vehicle Fees Fund in accordance with W. Va. Code § 17A-2-21 unless otherwise directed by statute or this rule.5.5.1. The initial participation fee will be determined by the Commissioner of the Division of Motor Vehicles and must accompany the original application for participation in the Title Clearinghouse.5.5.2. The annual renewal participation fee will be determined by the Commissioner of the Division of Motor Vehicles and must accompany the annual application for renewed participation in the Title Clearinghouse.5.5.3. The transaction fee is a minimum of $15 per title plus any technology fee per title assessed to fulfill contracts or agreements between the Division of Motor Vehicles and any contractor, portal manager, vendor or digital title service provider contracted or authorized by the Division of Motor Vehicles. The minimum title transaction fee shall be paid to the Division of Motor Vehicles and deposited in the State Road Fund. Any technology fee assessed shall be paid in a manner consistent with any agreement or contract.