§ 63-29-1. Short title
This chapter shall be known and may be cited as the “Mississippi Vehicle Protection Product Act.”
§ 63-29-11. Warranty reimbursement insurance policy requirements
No warranty reimbursement insurance policy shall be issued, sold or offered for sale in this state unless the policy meets the following conditions: 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, […]
§ 63-29-13. Disclosure to warranty holder; contents
Every vehicle protection product warranty shall be written in clear, understandable language and shall be printed or typed in an easy-to-read point size and font and shall not be sold or offered for sale in the state unless the warranty: Contains a disclosure that reads substantially as follows: “This agreement is a product warranty and […]
§ 63-29-15. Disclosure of terms and conditions governing cancellation of sale and warranty; cancellation of warranty only under certain conditions
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. The warrantor may only cancel the warranty if the warranty holder does any of the following: Fails to pay […]
§ 63-29-17. Prohibited acts of warrantors
Unless licensed as an insurance company, a vehicle protection product warrantor shall not use in its name, contracts or literature the words “insurance,” “casualty,” “surety,” “mutual” or any other word that is descriptive of the insurance, casualty or surety business, or that is deceptively similar to the name or description of any insurance or surety […]
§ 63-29-19. Record keeping; contents of warrantor’s accounts, books, records
All vehicle protection product warrantors shall keep accurate accounts, books and records concerning transactions regulated under this chapter. A vehicle protection product warrantor’s accounts, books and records shall include: Copies of all vehicle protection product warranties; The name and address of each warranty holder; and The dates, amounts and descriptions of all receipts, claims and […]
§ 63-29-21. Examination of warrantors by Motor Vehicle Commission; enforcement of and penalties for violations of this chapter
The Motor Vehicle Commission may conduct examinations of warrantors, administrators or other persons to enforce this chapter and protect warranty holders in this state. Upon request of the Motor Vehicle Commission, a warrantor shall make available to the Motor Vehicle Commission all accounts, books and records concerning vehicle protection products sold by the warrantor that […]
§ 63-29-23. Service of process
Any warrantor doing business in this state in accordance with this chapter shall be deemed to have appointed the Motor Vehicle Commission its true and lawful attorney upon whom may be served all lawful process in any action or proceeding against it. Any warrantor doing business in this state, operating without the authority provided by […]
§ 63-29-25. Rules and regulations
The Motor Vehicle Commission may adopt rules and regulations to establish procedures for implementing the provisions of this chapter as are necessary. Such rules and regulations shall include disclosures for the benefit of the warranty holder, record keeping requirements, registration fees, penalties and procedures for public complaints. Such rules and regulations shall also include the […]
§ 63-29-27. Applicability of chapter
This chapter applies to all vehicle protection products sold or offered for sale on or after July 1, 2007. The failure of any person to comply with this chapter before July 1, 2007, shall not be admissible in any court proceeding, administrative proceeding, arbitration or alternative dispute resolution proceeding and may not otherwise be used […]
§ 63-29-29. Effect of chapter on existing vehicle protection product warranties
The adoption of this chapter does not imply that a vehicle protection product warranty constituted insurance prior to July 1, 2007.
§ 63-29-3. Definitions
As used in this section: “Administrator” means a third party other than the warrantor who is designated by the warrantor to be responsible for the administration of vehicle protection product warranties. “Motor Vehicle Commission” means the Mississippi Motor Vehicle Commission. “Incidental costs” means expenses specified in the warranty incurred by the warranty holder related to […]
§ 63-29-5. Scope; exemptions
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. A vehicle protection product warranty provided or sold in compliance with this chapter is not a contract of insurance. Warranties, indemnity agreements and guarantees that are […]
§ 63-29-7. Registration and filing requirements of warrantors; fees; renewal of registration
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 Motor Vehicle Commission on a form prescribed by the Motor Vehicle Commission. Warrantor registration records shall be filed annually and shall be updated by the warrantor within thirty (30) […]
§ 63-29-9. Warrantor required to prove financial solvency or be insured under warranty insurance policy meeting certain conditions
No vehicle protection product shall be sold or offered for sale in this state unless the vehicle protection product warrantor can prove financial solvency as provided under subsection (2) of this section or is insured under a warranty insurance policy meeting the following conditions in order to ensure adequate performance under the warranty: The warranty […]