§ 56-55-109. Restrictions on Use of Deceptive Language — False or Misleading Statements — Fraud
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 […]
§ 56-55-110. Accounts, Books, and 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 […]
§ 56-55-111. Examination of Accounts, Books, and Records for Compliance — Costs and Fees of Examination — Enforcement — Violations — Hearings — Penalties
The commissioner may conduct examinations of warrantors, administrators, or other persons to enforce this chapter, and to protect warranty holders in this state. Upon request of the commissioner, a warrantor shall make available to the commissioner all accounts, books, and records concerning vehicle protection products sold by the warrantor that are necessary to enable the […]
§ 56-55-112. Commissioner or Secretary of State as Attorney for Service of Process
Any warrantor doing business in this state in accordance with this chapter shall be deemed to have appointed the commissioner 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 unauthorized by this chapter shall be deemed to […]
§ 56-55-113. Rules and Regulations
The commissioner may adopt administrative rules consistent with this chapter that are necessary to implement this chapter. The rules shall include disclosures for the benefit of the warranty holder, record keeping requirements, registration fees, penalties, and procedures for public complaints. The rules shall also include the conditions under which surplus lines insurers may be rejected […]
§ 56-55-114. Application — Effective Date
This chapter applies to all vehicle protection products sold or offered for sale on or after July 1, 2006. The failure of any person to comply with this chapter prior to July 1, 2006, shall not be admissible in any court proceeding, administrative proceeding, arbitration, or alternative dispute resolution proceeding and may not otherwise be […]
§ 56-55-115. Sale of Warranties Only Authorized as Part of Vehicle Protection Product
Nothing in this chapter shall authorize the sale of warranties, as defined in § 56-55-102, except as part of a vehicle protection product.
§ 56-55-101. Short Title
This chapter shall be known and may be cited as the “Tennessee Vehicle Protection Product Act.”
§ 56-55-102. Chapter Definitions
As used in this chapter, unless the context otherwise requires: “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; “Commissioner” means the commissioner of commerce and insurance; “Incidental costs” means expenses specified in the warranty, incurred by the […]
§ 56-55-103. Prohibited Sales — Restrictions
No vehicle protection product may be sold or offered for sale in this state unless the seller, warrantor, and administrator, if any, comply with 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 not provided as […]