This chapter shall be known and may be cited as the “Georgia Vehicle Protection Product Act.” History. Code 1981, § 33-34A-1 , enacted by Ga. L. 2003, p. 644, § 1. Code Commission notes. Pursuant to Code Section 28-9-5, in 2003, “chapter” was substituted for “Act”.
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 […]
The Commissioner may conduct examinations of warrantors, administrators, or other persons to enforce this chapter and 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 Commissioner […]
The Commissioner shall adopt rules and regulations which include disclosures for the benefit of the warranty holder, record keeping, and procedures for public complaints. Such rules and regulations shall also include the conditions under which surplus lines insurers may be rejected for the purpose of underwriting vehicle protection product warranty agreements. History. Code 1981, § […]
As used in this chapter, the term: “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. “Department” means the Department of Insurance. “Service contract” means a contract or agreement as defined under Code Section 33-7-6. “Incidental costs” means […]
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. Vehicle protection product warrantors and related vehicle protection product sellers and warranty administrators complying with this chapter are not required to comply with and are not […]
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 department on a form prescribed by the Commissioner. Warrantor registration records shall be filed annually and shall be updated within 30 days of any change. The registration records shall […]
No vehicle protection product shall be sold or offered for sale in this state unless the vehicle protection product warrantor is insured under warranty insurance policy meeting the following conditions in order to ensure adequate performance under the warranty: The warranty reimbursement insurance policy is issued by an insurer authorized to do business in this […]
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 […]
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: Conspicuously states that the obligations of the warrantor to the warranty holder are guaranteed under […]
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 […]
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 […]
