|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Martin O'Malley, Governor
|
|
|
|
|
|
S.B. 502
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Martin O'Malley
Governor
Senate Bill 502
AN ACT concerning
Commercial Law - Consumer Protection - Vehicle Protection Products Act
FOR the purpose of prohibiting a vehicle protection product from being sold or offered
for sale in the State unless the seller and the warrantor of the vehicle protection
product, and the warrantor's administrator, comply with the provisions of this
Act; providing that a seller, warrantor, or administrator that complies with this
Act is not required to comply with certain provisions of law; requiring a
warrantor of a vehicle protection product that is sold or offered for sale in the
State to register with the Division of Consumer Protection of the Office of the
Attorney General; requiring a registration form to include certain information;
requiring a warrantor that registers with the Division to pay a certain
registration fee and renewal fee; providing that certain information shall be
made available to the public under certain circumstances; requiring a certain
warrantor to maintain certain accounts, books, and records for a certain period
of time and to make the accounts, books, and records available for inspection by
the Division; requiring a certain warrantor to be insured under a certain
warranty reimbursement insurance policy or to maintain a certain amount of
net worth or stockholders' equity; requiring a warranty reimbursement
insurance policy to contain certain provisions; specifying certain contents of a
vehicle protection product warranty; authorizing a vehicle protection product
warranty to provide for the reimbursement of certain incidental costs; requiring
a seller or warrantor of a vehicle protection product to provide a written copy of
a vehicle protection product warranty to a purchaser at a certain time;
providing that a certain warrantor may negotiate the purchase price of a vehicle
protection product warranty; prohibiting a vehicle protection product warrantor
from using certain terms in its name, contracts, or literature; authorizing a
vehicle protection product warrantor to use a certain term in its name;
prohibiting a vehicle protection product seller or warrantor from requiring, as a
condition of the sale or financing of a vehicle, that the purchaser of the vehicle
buy a vehicle protection product; providing for the resolution of disputes
between a vehicle protection product warrantor and a warranty holder;
providing that a violation of this Act is an unfair or deceptive trade practice
under the Maryland Consumer Protection Act and is subject to certain
enforcement and penalty provisions; establishing a certain short title; defining
certain terms; providing for the application of this Act; prohibiting this Act from
being interpreted in a certain manner; providing for a delayed effective date;
and generally relating to the Vehicle Protection Products Act.
|
|
|
|
|
|
|
|
|
|
- 4279 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
