(1) If a vehicle taken into custody under ORS 819.110 or 819.120 is appraised at a value of $1,000 or less, or if it is an abandoned vehicle appraised at a value of $1,000 or less but more than $500, the authority with custody of the vehicle may dispose of the vehicle without notice and public auction if any of the following occur:
(a) The owner of the vehicle and any lessor or security interest holder shown in the records of the Department of Transportation sign a release, under oath, disclaiming any future interest in the vehicle.
(b) The owner and any lessor or security interest holder shown in the records of the department have been sent notification of the location of the vehicle and, within 15 days after the date the notification is mailed, the persons notified have not signed releases or the vehicle has not been reclaimed. Failure to sign a release or to reclaim the vehicle shall constitute a waiver of interest in the vehicle.
(2) Upon completion of the requirements under this section, the authority may sell the vehicle without notice and public auction to any of the persons described in this subsection. The authority shall issue to the person purchasing the vehicle a certificate of sale described under ORS 819.240 and shall notify the person that the person might be required by the provisions of ORS 819.016 to apply for a salvage title. The authority may sell a vehicle under this subsection to any of the following:
(a) A dismantler with a certificate issued under ORS 822.110.
(b) Any other person who complies with the provisions of ORS 819.010.
(3) Upon disposition of a vehicle under this section the vehicle shall cease to be a vehicle for purposes of the vehicle code, except as provided in the following:
(a) The person purchasing the vehicle is subject to the provisions of ORS 819.010 and 819.040 relating to salvage procedures and requirements for destruction of vehicles.
(b) The provisions of ORS 819.030 apply to the procedures of the department relating to the vehicle, as appropriate.
(4) The authority to sell or dispose of a vehicle under this section is in addition to any authority under ORS 819.210. [1983 c.338 §428; 1985 c.16 §225; 1985 c.316 §6; 1991 c.873 §40; 1993 c.326 §7; 1993 c.751 §76; 1995 c.758 §17; 2005 c.654 §30]
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