Michigan Laws 257.1247 – Notice; form; filing; contents; availability to public; fee; failure to file notice; exception
Current as of: 2024 | Check for updates
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Terms Used In Michigan Laws 257.1247
- Administrator: means a third party other than the warrantor who is designated by the warrantor to be responsible for the administration of vehicle protection product warranties in this state. See Michigan Laws 257.1243
- Department: means the department of labor and economic growth. See Michigan Laws 257.1243
- Person: means an individual, partnership, corporation, limited liability company, association, or other legal entity. See Michigan Laws 257.1243
- Service of process: The service of writs or summonses to the appropriate party.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- Vehicle protection product: means a vehicle protection device, system, or service that is installed on or applied to a vehicle and is designed to prevent loss or damage to a vehicle from a specific cause. See Michigan Laws 257.1243
- Warranted product: means a vehicle protection product covered by a written warranty. See Michigan Laws 257.1243
- warrantor: means a person that is contractually obligated to a warranty holder under the terms of a vehicle protection product warranty agreement. See Michigan Laws 257.1243
- warranty: means a written agreement by a warrantor that provides if a warranted product fails to prevent loss or damage to a vehicle from a specific cause covered by the warranty, the warrantor shall pay the warranty holder specified incidental costs that result from the failure of the warranted product to perform. See Michigan Laws 257.1243
(1) A person may not act as a warrantor or represent to the public that the person is a warrantor unless the person files a notice with the department, on a form prescribed by the department, that contains all of the following information:
(a) The warrantor’s name, any assumed or fictitious names under which the warrantor does business in this state, and the warrantor’s principal office address and telephone number.
(b) The name and address of the warrantor’s designated agent for service of process in this state if it is not the warrantor.
(c) The names of the warrantor’s executive officer or officers directly responsible for the warrantor’s warranted product business.
(d) The name, address, and telephone number of any administrators designated by the warrantor to be responsible for the administration of vehicle protection product warranties in this state.
(e) A copy of the warranty reimbursement insurance policy or policies or other financial information required in section 9.
(f) A copy of each warranty the warrantor proposes to use in this state.
(g) A statement indicating that the warrantor qualifies to do business in this state as a warrantor under section 9.
(2) The department shall make the information described in subsection (1)(a) and (b) available to the public.
(3) The department may charge each warrantor a reasonable fee to offset the cost of processing a notice and maintaining the records. The fee shall not exceed $250.00 per year.
(4) If a warrantor fails to file a notice by the renewal deadline established by the department, the department shall give the warrantor written notice of the failure and the warrantor has 30 days to file its completed notice before the warrantor is suspended from acting as a warrantor in this state.
(5) An administrator or person who sells or solicits a sale of a warranted product but who is not a warrantor is not required to file a notice under this section or be licensed under the insurance laws of this state to sell warranted products.