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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...
alisondb.legislature.state.al.us/alison/CodeOfAlabama/1975/8-33-13.htm - 1K - Match Info - Similar pages
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