§431:10C-312  Payment of excise tax andcertificate of ownership fee.  (a)  When a replacement vehicle is providedunder section 431:10C-310 or section 431:10C-311, the insurer shall pay theapplicable general excise tax and ownership fee as follows:

(1)  If a cash settlement is provided, and if withinthirty days of the receipt of the settlement by the insured, the insured haspurchased a vehicle, the insurer shall reimburse the insured for the applicablegeneral excise tax and certificate of ownership fee incurred on account of thepurchase of the vehicle, but not exceeding the amount payable on account of thevalue of the total loss vehicle.

(2)  If the insured purchases a vehicle with a marketvalue less than the amount of the settlement, then the insurer shall reimburseonly the amount of the applicable general excise tax and certificate ofownership fee incurred by the insured.

(b)  If the insured cannot substantiate thepurchase and the payment of the taxes and fee, by submission to the insurer ofappropriate documentation within thirty-three days after the receipt ofsettlement, the insurer shall not be required to reimburse the insured for thetaxes or fee.

(c)  In lieu of the reimbursement procedure setout in subsection (a), the insurer may directly pay the required amounts ofgeneral excise taxes and certificate of ownership fee to the insured at thetime of settlement.

(d)  Written notice of the payment procedureoutlined in this section shall be communicated to the insured at the time ofsettlement, together with any form required by the insurer for applying for thereimbursement. [L 1987, c 347, pt of §2]