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8-33-10
Section 8-33-10 Record keeping requirements. (a) All vehicle protection product warrantors
shall keep accurate accounts, books, and records concerning transactions regulated under this
chapter. (b) A vehicle protection product warrantor's accounts, books, and records shall include:
(1) Copies of all vehicle protection product warranties. (2) The name and address of each
warranty holder. (3) The dates, amounts, and descriptions of all receipts, claims, and expenditures.
(c) A vehicle protection product warrantor shall retain all required accounts, books, and
records pertaining to each warranty holder for at least two years after the specified period
of coverage has expired. A warrantor discontinuing business in this state shall maintain its
records until it furnishes the commissioner satisfactory proof that it has discharged all
obligations to warranty holders in this state. (d) Vehicle protection product warrantors shall
make all accounts, books, and records concerning transactions...
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8-33-11
Section 8-33-11 Enforcement provisions. (a) The commissioner may conduct examinations
of warrantors, administrators, or other persons to enforce this chapter and protect warranty
holders in this state. Upon request of the commissioner, a warrantor shall make available
to the commissioner all accounts, books, and records concerning vehicle protection products
sold by the warrantor that are necessary to enable the commissioner to reasonably determine
compliance or noncompliance with this chapter. (b) The commissioner may take action that is
necessary or appropriate to enforce this chapter, the commissioner's rules and orders, and
to protect warranty holders in this state. If a warrantor engages in a pattern or practice
of conduct that violates this chapter and that the commissioner reasonably believes threatens
to render the warrantor insolvent or cause irreparable loss or injury to the property or business
of any person or company located in this state, the commissioner may do any of...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-11.htm - 3K - Match Info - Similar pages
40-27-1
Section 40-27-1 Compact adopted; terms. The following Multistate Tax Compact is hereby
approved, adopted and enacted into law by the State of Alabama: Multistate Tax Compact Article
I. Purposes. The purposes of this compact are to: 1. Facilitate proper determination of state
and local tax liability of multistate taxpayers, including the equitable apportionment of
tax bases and settlement of apportionment disputes. 2. Promote uniformity or compatibility
in significant components of tax systems. 3. Facilitate taxpayer convenience and compliance
in the filing of tax returns and in other phases of tax administration. 4. Avoid duplicative
taxation. Article II. Definitions. As used in this compact: 1. "State" means a state
of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory
or possession of the United States. 2. "Subdivision" means any governmental unit
or special district of a state. 3. "Taxpayer" means any corporation, partnership,
firm,...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/40-27-1.htm - 42K - Match Info - Similar pages
27-61-1
Section 27-61-1 Surplus Lines Insurance Multi-State Compliance Compact. The Surplus
Lines Insurance Multi-State Compliance Compact Act is enacted into law and entered into with
all jurisdictions mutually adopting the compact in the form substantially as follows: PREAMBLE
WHEREAS, with regard to Non-Admitted Insurance policies with risk exposures located in multiple
states, the 111th United States Congress has stipulated in Title V, Subtitle B, the Non-Admitted
and Reinsurance Reform Act of 2010, of the Dodd-Frank Wall Street Reform and Consumer Protection
Act, hereafter, the NRRA, that: (A) The placement of Non-Admitted Insurance shall be subject
to the statutory and regulatory requirements solely of the insured's Home State, and (B) Any
law, regulation, provision, or action of any State that applies or purports to apply to Non-Admitted
Insurance sold to, solicited by, or negotiated with an insured whose Home State is another
State shall be preempted with respect to such application;...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/27-61-1.htm - 62K - Match Info - Similar pages
8-33-7
Section 8-33-7 Form and contents of warranty. (a) Every vehicle protection product warranty
in its entirety shall be written, printed, or typed in eight point type size or larger and
shall not be sold or offered for sale in this state unless the warranty: (1) States that the
obligations of the warrantor to the warranty holder are guaranteed under a warranty reimbursement
insurance policy if the warrantor elects to meet its financial responsibility obligations
under subsection (b) of Section 8-33-5 or states that the obligations of the warrantor
under the warranty are backed by the full faith and credit of the warrantor if the warrantor
elects to meet its financial responsibility obligations under subsection (c) of Section
8-33-5. (2) States that in the event a warranty holder must make a claim against a party other
than the warranty reimbursement insurance policy issuer, the warranty holder is entitled to
make a direct claim against the insurer upon the failure of the warrantor to pay...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-7.htm - 3K - Match Info - Similar pages
8-33-8
Section 8-33-8 Cancellation of warranty. (a) No vehicle protection product may be sold
or offered for sale in this state unless the vehicle protection product warranty clearly states
the terms and conditions governing the cancellation of the sale and warranty, if any. (b)
The warrantor may only cancel the warranty if the warranty holder does any of the following:
(1) Fails to pay for the vehicle protection product. (2) Makes a material misrepresentation
to the seller or warrantor. (3) Commits fraud related to the purchase of the vehicle protection
product, registration of the warranty, or a claim made under the warranty. (4) Substantially
breaches the warranty holder's duties under the warranty. (c) A warrantor canceling a warranty
shall mail written notice of cancellation to the warranty holder at the last address of the
warranty holder in the warrantor's records at least 30 days prior to the effective date of
the cancellation. The notice shall state the effective date of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-8.htm - 1K - Match Info - Similar pages
8-33-5
Section 8-33-5 Conditions for warrantors. (a) No vehicle protection product shall be
sold or offered for sale in this state unless the warrantor meets one of the conditions in
subsection (b) or (c) in order to ensure adequate performance under the warranty. No other
financial security requirements or financial standards for warrantors shall be required. (b)
The vehicle protection product warrantor is insured under a warranty reimbursement insurance
policy issued by an insurer authorized to do business in this state which provides that: (1)
The insurer will pay to, or on behalf of, the warrantor 100 percent of all sums that the warrantor
is legally obligated to pay according to the warrantor's contractual obligations under the
warrantor's vehicle protection product warranty. (2) A true and correct copy of the warranty
reimbursement insurance policy has been filed with the commissioner by the warrantor. (3)
The policy contains the provision required in Section 8-33-6. (c)(1) The vehicle...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-5.htm - 2K - Match Info - Similar pages
8-33-2
Section 8-33-2 Definitions. As used in this chapter, the following words shall have
the following meanings: (1) ADMINISTRATOR. A third party other than the warrantor who is designated
by the warrantor to be responsible for the administration of vehicle protection product warranties.
(2) COMMISSIONER. The Commissioner of the Department of Insurance. (3) DEPARTMENT. The Department
of Insurance. (4) INCIDENTAL COSTS. Expenses specified in the warranty incurred by the warranty
holder related to the failure of the vehicle protection product to perform as provided in
the warranty. Incidental costs may include, without limitation, insurance policy deductibles,
rental vehicle charges, the difference between the actual value of the stolen vehicle at the
time of theft and the cost of a replacement vehicle, sales taxes, registration fees, transaction
fees, and mechanical inspection fees. (5) SERVICE CONTRACT. A contract or agreement as defined
in subdivision (13) of Section 8-32-2. (6) VEHICLE...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-2.htm - 3K - Match Info - Similar pages
8-33-3
Section 8-33-3 Compliance. (a) No vehicle protection product may be sold or offered
for sale in this state unless the seller, warrantor, and administrator, if any, comply with
the provisions of this chapter. (b) Vehicle protection product warrantors and related vehicle
protection product sellers and warranty administrators complying with this chapter are not
required to comply with and are not subject to any other provision of the Alabama Insurance
Code. (c) Service contract providers who do not sell vehicle protection products are not subject
to the requirements of this chapter and sales of vehicle protection products are exempt from
the requirements of Chapter 32. (d) Warranties, indemnity agreements, and guarantees that
are not provided as a part of a vehicle protection product are not subject to this chapter.
(Act 2006-600, p. 1638, ยง3.)...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-3.htm - 1K - Match Info - Similar pages
8-33-6
Section 8-33-6 Conditions for policies. No warranty reimbursement insurance policy shall
be issued, sold, or offered for sale in this state unless the policy meets the following conditions:
(1) The policy states that the issuer of the policy will reimburse or pay on behalf of the
vehicle protection product warrantor all covered sums which the warrantor is legally obligated
to pay or will provide all service that the warrantor is legally obligated to perform according
to the warrantor's contractual obligations under the provisions of the insured warranties
sold by the warrantor. (2) The policy states that in the event payment due under the terms
of the warranty is not provided by the warrantor within 60 days after proof of loss has been
filed according to the terms of the warranty by the warranty holder, the warranty holder may
file directly with the warranty reimbursement insurance company for reimbursement. (3) The
policy provides that a warranty reimbursement insurance company that...
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