950 CMR, § 119.02

Current through Register 1536, December 6, 2024
Section 119.02 - Definitions

For purposes of 950 CMR 119.00, unless the context otherwise requires, the following terms shall have the meanings indicated:

Administrator means a third party other than the warrantor who is designated by the warrantor to be responsible for the administration of its vehicle protection product warranties.

Vehicle Protection Product means a vehicle protection device, system or service installed on or applied to a vehicle that is designed to prevent loss or damage to a vehicle from a specific cause, and sold with a vehicle protection product warranty. Such products include, but are not limited to, alarm systems, body part marking products, steering locks, window etch products, pedal and ignition locks, fuel and ignition kill switches and electronic, radio and satellite tracking devices.

Vehicle Protection Product Warranty means a written warranty by a warrantor that provides for the payment of incidental costs or the provision of services by the warrantor to or for the benefit of the warranty holder if the vehicle protection product fails to prevent loss or damage to a vehicle from a specific cause.

Warrantor means a person who is contractually obligated to the warranty holder under the terms of the vehicle protection product warranty.

Warranty Holder means a person who purchases a vehicle protection product warranty or to whom it is transferred under the terms of the warranty.

Warranty Reimbursement Insurance Policy means a policy of insurance issued to a warrantor to provide reimbursement to the warrantor consistent with the terms of its vehicle protection product warranties and provide direct payment of incidental costs or provision of services to the warranty holder on behalf of the warrantor if the warrantor fails to perform as obligated under the terms of the vehicle protection product warranty within 60 days of a request for payment of services.

950 CMR, § 119.02