Section 2. (a) A vehicle protection product warranty is required for all vehicle protection products sold or offered for sale in the commonwealth and shall: (1) identify the warrantor, the seller of the vehicle protection product, the warranty holder and the terms of the sale and the warranty; (2) conspicuously state that the obligations of […]
Section 3. (a) A vehicle protection product sold or offered for sale in the commonwealth shall have its warranty liability backed by a warranty reimbursement insurance policy issued by an insurer authorized to do business in the commonwealth who has filed its policy form with the division of insurance, or the warrantor shall demonstrate proof […]
Section 4. (a) A vehicle protection product shall not be sold, or offered for sale in the commonwealth unless the warrantor either covers the warrantor’s warranty liability with a warranty reimbursement insurance policy or maintains a minimum net worth in order to ensure adequate performance under the warranty under the conditions set forth in this […]
Section 5. (a) A warrantor shall register with the state secretary on a form prescribed by the secretary. (b) Warrantor registration records shall be filed annually and shall be updated within 30 days of any change. The registration records shall contain the following information: (1) the warrantor’s name, including a fictitious or assumed name under […]
Section 6. (a) The state secretary, in his discretion, may make public or private investigation within or outside of the commonwealth as he considers necessary to determine whether a person has violated or is about to violate this chapter. For purposes of an investigation or proceeding, the secretary or an officer designated by him may […]
