AN ACT TO PROVIDE A LEGAL FRAMEWORK FOR THE SALE AND REGULATION OF MOTOR VEHICLE ANCILLARY ANTI-THEFT PROTECTION CONTRACTS IN NORTH CAROLINA.
House committee substitute makes the following changes to the 2nd edition.
Adds a sentence to GS 66-370 stating that the terms insurance contract and motor vehicle service agreement do not include an agreement where an employer provides mileage reimbursement and incidental maintenance and repairs to employees using personal vehicles for business purposes.
Replaces the term ancillary protection product with ancillary anti-theft protection program and adjusts the statutory definition by (1) removing reference to protective chemical or substances systems, (2) replacing references to loss from "a specific cause" to "loss from theft," and (3) including chemicals applied to interior or exterior surfaces of a vehicle among items that fall outside the definition.
Replaces the term ancillary protection product warranty with ancillary anti-theft protection program warranty and removes a list of items included within the meaning of incidental costs. Clarifies that the program warranty reimburses for costs that result from the failure of the protection program to perform pursuant to its warranty.
Deletes from the definition of motor vehicle service agreement certain items that fall outside the definition. These items are (1) ancillary protection product warranties and (2) coverage for the repair or replacement due to damage to the interior or exterior of a vehicle.
Makes conforming changes.
Changes the long title.
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