Title 26, Trade Regulation And Practice

§481X-2 Definitions. As used in this chapter: "Administrator" means a person appointed or designated by a provider who administers service contracts and service contract plans on behalf of the provider and subject to the requirements of this chapter. "Commissioner" means the insu…

§481X-3 Registration. (a) Before conducting business in this State, a provider shall register with the commissioner, on a form prescribed by the commissioner, and shall pay to the commissioner a fee as provided under section 431:7-101. (b) Provider registration shall be updated a…

§481X-4 Financial responsibility. A provider shall comply with the requirements under any one of the following paragraphs, and shall not be subject to any other financial security requirements under state law: (1) The provider shall insure all service contracts under a contractua…

[§481X-5] Recordkeeping. (a) The provider or provider's administrator shall keep accurate accounts, books, and records of all transactions regulated under this chapter. (b) Accounts, books, and records maintained as required by this section shall include the following: (1) Copies…

[§481X-6] Service contracts; receipt; disclosures. (a) Providers shall provide purchasers of a service contract with: (1) A receipt for or other written evidence of the purchase of the service contract that shall be provided to the service contract holder; (2) A copy of the servi…

[§481X-7] Service contract returns and refunds. (a) Service contracts shall state that the contract holder may return the contract within: (1) Thirty days of the date that the contract was mailed to the contract holder; (2) Twenty days of the date the contract was delivered to th…

[§481X-8] Contractual liability insurance policies. (a) Contractual liability insurance policies in this State shall provide that if covered service is not provided by the service contract provider or administrator within sixty days of proof of loss by the contract holder, the co…

[§481X-9] Applicability of premium taxes. Service contract provider fees shall not be subject to premium taxes. Contractual liability insurance policies shall be subject to premium taxes. [L 2000, c 221, pt of §2]