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2007 Laws of Maryland
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Ch. 407
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PROTECTION PRODUCT WARRANTY INSTEAD OF BEING PREPRINTED ON THE
VEHICLE PROTECTION PRODUCT WARRANTY.
(E) AT THE TIME OF PURCHASE OF A VEHICLE PROTECTION PRODUCT,
A WARRANTOR MAY NEGOTIATE WITH THE PURCHASER THE PURCHASE PRICE
AND TERMS OF THE VEHICLE PROTECTION PRODUCT WARRANTY.
(F) A VEHICLE PROTECTION PRODUCT WARRANTY MAY PROVIDE FOR
THE REIMBURSEMENT OF INCIDENTAL COSTS INCURRED BY THE WARRANTY
HOLDER:
(1) IN A FIXED AMOUNT SPECIFIED IN THE VEHICLE PROTECTION
PRODUCT WARRANTY; OR
(2) ACCORDING TO A FORMULA THAT ITEMIZES SPECIFIC
INCIDENTAL COSTS INCURRED BY THE WARRANTY HOLDER.
14-4A-09.
(A) UNLESS AUTHORIZED BY THE MARYLAND INSURANCE
COMMISSIONER TO ENGAGE IN THE INSURANCE BUSINESS IN THE STATE, A
WARRANTOR MAY NOT USE THE FOLLOWING WORDS IN ITS NAME, CONTRACTS,
OR LITERATURE:
(1) "INSURANCE";
(2) "CASUALTY";
(3) "SURETY";
(4) "MUTUAL"; OR
(5) ANY OTHER WORDS THAT ARE:
(I) DESCRIPTIVE OF THE INSURANCE, CASUALTY, OR
SURETY BUSINESS; OR
(II) DECEPTIVELY SIMILAR TO THE NAME OR DESCRIPTION
OF AN INSURER, A SURETY CORPORATION, OR ANOTHER WARRANTOR.
(B) A WARRANTOR MAY USE THE TERM "GUARANTY" OR A SIMILAR
WORD IN THE WARRANTOR'S NAME.
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- 2498 -
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