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2008 SESSION

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HB 1508 Extended service contracts; revises definition thereof.

Introduced by: Mark D. Sickles | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Extended service contracts. Revises the definition of an extended service contract to mean a contract or agreement for a specific duration, in return for a segregated charge by the purchaser, to perform the repair or replacement of any consumer product, including a motor vehicle, or for indemnification for repair or replacement, for the operational or structural failure of any consumer product, including a motor vehicle, due to a defect in materials, workmanship, inherent defect, or normal wear and tear, with or without additional provisions for incidental payment of indemnity under limited circumstances, including, but not limited to, towing, rental, and emergency road service and road hazard protection. The measure provides that extended service contracts may provide for the repair or replacement of any consumer product for damage resulting from power surges or interruption or accidental damage from handling. The measure further declares that extended service contracts are not insurance in the Commonwealth or otherwise regulated under Title 38.2.


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