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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
8-33-6
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-6.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
8-33-5
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
8-33-8
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
8-33-4
Section 8-33-4 Registration requirements. (a) A person may not operate as a warrantor
or represent to the public that the person is a warrantor unless the person is registered
with the department on a form prescribed by the commissioner. (b) Warrantor registration records
shall be filed annually and shall be updated within 30 days of any change. The registration
records shall contain the following information: (1) The warrantor's name, any fictitious
names under which the warrantor does business in the state, principal office address, and
telephone number. (2) The name and address of the warrantor's agent for service of process
in the state if other than the warrantor. (3) The names of the warrantor's executive officer
or officers directly responsible for the warrantor's vehicle protection product business.
(4) The name, address, and telephone number of any administrators designated by the warrantor
to be responsible for the administration of vehicle protection product warranties in...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-4.htm - 2K - Match Info - Similar pages
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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-10.htm - 1K - Match Info - Similar pages
8-32-2
Section 8-32-2 Definitions. As used in this chapter, the following terms shall have
the following meanings: (1) ADMINISTRATOR. The person designated by a provider to be responsible
for the administration of service contracts or the service contracts plan or to make the filings
required by this chapter. (2) COMMISSIONER. The Commissioner of Insurance of this state. (3)
CONSUMER. A natural person who buys, primarily for personal, family, or household purposes,
and not for resale, any tangible personal property normally used for personal, family, or
household purposes and not for commercial or research purposes. (4) MAINTENANCE AGREEMENT.
A contract of limited duration that provides for scheduled maintenance only. (5) MANUFACTURER.
A person that is one of the following: a. A manufacturer or producer of property that sells
the property under its own name or label. b. A subsidiary of the person who manufactures or
produces the property. c. A corporation which owns at least 80 percent of the...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-32-2.htm - 6K - 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
8-33-13
Section 8-33-13 Applicability. This chapter applies to all vehicle protection products
sold or offered for sale on or after January 1, 2007. The failure of any person to comply
with this chapter prior to January 1, 2007, shall not be admissible in any court proceeding,
administrative proceeding, arbitration, or alternative dispute resolution proceeding and may
not otherwise be used to prove that the action of any person or the affected vehicle protection
product was unlawful or otherwise improper. The adoption of this chapter does not imply that
a vehicle protection product warranty was insurance prior to January 1, 2007. The penalty
provisions of this chapter do not apply to any violation of this chapter relating to or in
connection with the sale or failure to disclose in a retail installment contract or lease,
or contract or agreement that provides for payments under a vehicle protection product warranty
as long as the sale of such product, contract, or agreement was otherwise...
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