(a) In this subtitle the following words have the meanings indicated. (b) “Administrator” means a person that is designated by a warrantor to be responsible for the administration of a vehicle protection product warranty. (c) “Division” means the Division of Consumer Protection of the Office of the Attorney General. (d) (1) “Incidental costs” means an expense that: (i) Is specified in […]
(a) This subtitle does not apply to: (1) A service contract provider that does not sell vehicle protection products; or (2) A warranty, indemnity agreement, or guarantee that is not provided in connection with the sale of a vehicle protection product. (b) A vehicle protection product warranty is not subject to the provisions of Subtitle 4 of this title. […]
A vehicle protection product may not be sold or offered for sale in the State unless the seller and warrantor of the vehicle protection product, and the warrantor’s administrator, comply with the provisions of this subtitle.
(a) A warrantor of a vehicle protection product that is sold or offered for sale in the State shall register with the Division on the form that the Division provides. (b) The registration form shall include: (1) The name, address, and telephone number of the warrantor, including any name under which the warrantor does business; (2) The name, address, […]
Except for information received under § 14–4A–04(b)(5)(ii) of this subtitle, any information received by the Division in the course of administering this subtitle shall be made available to the public, subject to the provisions of the Maryland Public Information Act.
(a) A warrantor of a vehicle protection product sold or offered for sale in the State shall keep accurate accounts, books, and records that relate to its vehicle protection product warranties. (b) A warrantor’s accounts, books, and records shall include: (1) A copy of each vehicle protection product warranty sold or issued in the State; (2) The name and […]
(a) A warrantor of a vehicle protection product sold or offered for sale in the State shall: (1) Be insured under a warranty reimbursement insurance policy; or (2) Maintain a net worth or stockholders’ equity of not less than $50,000,000. (b) A warrantor that meets its financial obligation in accordance with subsection (a) of this section is not required […]
(a) A vehicle protection product warranty shall state: (1) One of the following, as applicable: (i) “The obligations of the warrantor to the warranty holder under this vehicle protection product warranty are guaranteed under a warranty reimbursement insurance policy. In the event payment due under the terms of the vehicle protection product warranty is not provided by the […]
(a) Unless authorized by the Maryland Insurance Commissioner to engage in the insurance business in the State, a warrantor may not use the following words in its name, contracts, or literature: (1) “Insurance”; (2) “Casualty”; (3) “Surety”; (4) “Mutual”; or (5) Any other words that are: (i) Descriptive of the insurance, casualty, or surety business; or (ii) Deceptively similar to the name or […]
A vehicle protection product seller or a warrantor may not require, as a condition of the sale or financing of a vehicle, that the purchaser of the vehicle buy a vehicle protection product.
A warrantor that establishes an informal dispute settlement procedure may elect to settle vehicle protection product warranty disputes in coordination with a private mediation services provider or the Division.
A warrantor is: (1) Liable to the warranty holder for any wrongful breach of a vehicle protection product warranty; and (2) Under a duty to: (i) Comply with the requirements of this subtitle; and (ii) Compensate the warranty holder for all reasonable incidental expenses incurred as a result of the breach.
(a) A violation of this subtitle: (1) Is an unfair or deceptive trade practice within the meaning of Title 13 of this article; and (2) Except for § 13–410 of this article, is subject to the enforcement and penalty provisions contained in Title 13 of this article. (b) A warrantor that violates the provisions of this subtitle is subject […]
This subtitle may be cited as the Vehicle Protection Products Act.
