Section 8-33-6 – Conditions for Policies.
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 […]
Section 8-35-1 – Definitions.
Section 8-35-1 Definitions. As used in this chapter, the following terms shall have the following meanings: (1) CONSUMER. A natural person residing in this state. (2) CONSUMER CREDIT REPORT. A consumer report, as defined in 15 U.S.C. §1681a(d), that a consumer reporting agency furnishes to a person which it has reason to believe intends to […]
Section 8-33-7 – Form and Contents of Warranty.
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 […]
Section 8-35-2 – Security Freeze on Credit Report.
Section 8-35-2 Security freeze on credit report. (a) A consumer may place a security freeze on the consumer’s credit report by making a request in writing by certified mail to a consumer credit reporting agency. No later than August 31, 2012, a consumer credit reporting agency shall make available to consumers an Internet based method […]
Section 8-33-8 – Cancellation of Warranty.
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 […]
Section 8-35-3 – Notice of Rights.
Section 8-35-3 Notice of rights. At any time that a consumer is required to receive a summary of rights required by 15 U.S.C. §1681g(d) of the federal Fair Credit Reporting Act, the consumer shall also be provided with the following notice: “Alabama Consumers Have the Right to Obtain a Security Freeze. You have a right […]
Section 8-33-9 – Prohibited Acts.
Section 8-33-9 Prohibited acts. (a) Unless licensed as an insurance company, a vehicle protection product warrantor shall not use in its name, contracts, or literature, any of the words “insurance,” “casualty,” “surety,” “mutual,” or any other words descriptive of the insurance, casualty, or surety business or deceptively similar to the name or description of any […]
Section 8-36-1 – Definitions.
Section 8-36-1 Definitions. As used in this chapter, the following terms shall have the following meanings: (1) RESIDENTIAL REAL ESTATE. A new or existing building constructed for habitation by one to four families, including detached garages. (2) RESIDENTIAL ROOFING CONTRACTOR. A person or entity in the business of contracting or offering to contract with an […]
Section 8-33-10 – Record Keeping Requirements.
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 […]
Section 8-36-2 – Cancellation of Residential Roofing Contract; Notice of Cancellation; Payments.
Section 8-36-2 Cancellation of residential roofing contract; notice of cancellation; payments. (a) A person who has entered into a written contract with a residential roofing contractor to provide goods or services to be paid from the proceeds of a property and casualty insurance policy may cancel the contract prior to midnight on the fifth business […]