§ 83-65-101. Purpose
The sole purpose of this chapter is to provide for the regulation of vehicle service contracts. This chapter does not apply to motor vehicle manufacturers’ warranties.
§ 83-65-103. Definitions
For the purposes of this chapter: “Commissioner” means the Commissioner of Insurance. “Service contract holder” means a person who purchases or otherwise obtains a vehicle service contract. “Vehicle service contract” means a contract or agreement that undertakes to perform or provide repair or replacement service, or provide payment for that service, for the operational or […]
§ 83-65-105. Issuance, sale, or offer for sale of service contract; authorized providers
A vehicle service contract shall not be issued, sold, or offered for sale in this state unless the provider of the vehicle service contract is a named insured under a reimbursement insurance policy issued by an insurer authorized to do business in this state.
§ 83-65-107. Issuance, sale, or offer for sale of service contract; document filing requirements; rates
A vehicle service contract shall not be issued, sold, or offered for sale in this state unless a true and correct copy of the vehicle service contract and the provider’s reimbursement insurance policy and the rates to be charged for the reimbursement insurance policy have been filed by the insurer issuing the reimbursement insurance policy […]
§ 83-65-109. Issuance, sale, or offer for sale of reimbursement insurance policy
A reimbursement insurance policy shall not be issued, sold, or offered for sale in this state unless the reimbursement insurance policy conspicuously states that the issuer of the policy shall provide on behalf of the provider all services which the provider is legally obligated to provide according to the provider’s contractual obligations under the vehicle […]
§ 83-65-111. Issuance, sale, or offer for sale of service contract; form and terms of contract
A vehicle service contract shall not be issued, sold, or offered for sale in this state unless the contract conspicuously states that the obligations of the provider to the service contract holder to provide services are guaranteed under a reimbursement insurance policy, and unless the contract conspicuously states the name and address of the issuer […]
§ 83-65-113. Use of particular words in names of providers, contracts or literature; false or misleading statements or omissions, etc., by providers; requirement of purchase of vehicle service contract as condition of loan or sale
Unless licensed as an insurance company, a provider 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 insurance or surety corporation, or any other vehicle […]
§ 83-65-115. Recordkeeping requirements
All providers shall keep accurate accounts, books, and records concerning transactions regulated under this chapter. A provider’s accounts, books, and records shall include: Copies of all service contracts; The name and address of each service contract holder to the extent that the name and address have been furnished by the service contract holder; The dates, […]
§ 83-65-117. Cancellation of reimbursement insurance policy
The issuer of a reimbursement insurance policy shall not cancel such reimbursement insurance policy unless sixty (60) days written notice of cancellation has been given to the commissioner and to each insured provider, including automobile dealers and third-party administrators. The cancellation of a reimbursement insurance policy shall not reduce the issuer’s responsibility for vehicle service […]
§ 83-65-119. Complaint against providers
The commissioner may receive and process each complaint made against any provider which alleges certain acts or practices which may constitute one or more violations of this chapter. Any member of the public, or any federal, state, or local official, may file a complaint with the commissioner. Complaints may be received from sources outside the […]
§ 83-65-121. Promulgation of regulations
The commissioner may promulgate regulations necessary to effectuate this chapter.
§ 83-65-123. Application of chapter
If any provision of this chapter or the application thereof to any person or circumstance is held invalid by a court of competent jurisdiction, the remainder of the chapter or the applicability of such provision to other persons or circumstances shall not be affected.
§ 83-65-125. Provider not required to be named insured under reimbursement insurance policy under certain circumstances
A provider shall not be required to be a named insured under a reimbursement insurance policy for purposes of issuing, selling or offering for sale a vehicle service contract in this state if the provider complies with the following requirements: Maintains, or has a parent company maintain, a net worth or stockholders’ equity of at […]