NEW JERSEY – Legislation sponsored by Senator Anthony M. Bucco eliminating the Motor Vehicle Commission’s requirement for a written power of attorney to complete some transactions is now law.
Bucco’s measure, A-4521/S-2882, prevents MVC from requiring a motor vehicle insurer that settles a total loss claim with the owner of a vehicle to include a written power of attorney with documents. It also stops MVC from requiring a notarized signature on a motor vehicle certificate of ownership surrender statement from a person who received a loss settlement from an insurer.
“Half the states in the U.S. do not require either the written power of attorney or notaries to authorize documents,” Bucco (R-25) said. “These are unnecessary mandates. There is no justification for New Jersey demanding requirements that only create confusion and contribute to the inefficiencies that plague MVC.
“Most people don’t have access to a notary. This legislation will ease some of the burden of receiving insurance claims after an accident or the theft of a car,” Bucco said.
Under the new law, insurers will be permitted to submit paperwork accompanied by a power of attorney executed electronically by the motorist who has or will receive a loss settlement.