Idaho Code 41-6208 – Recordkeeping Requirements
Current as of: 2023 | Check for updates
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(1) All motor vehicle service contract providers shall keep accurate accounts, books and records concerning transactions regulated under the provisions of this act. A motor vehicle service contract provider’s accounts, books and records shall include:
(a) Copies of all motor vehicle service contracts issued;
(b) The name and address of each motor vehicle service contract holder; and
(c) Claim files.
(2) All motor vehicle service contract providers shall retain all records pertaining to each motor vehicle service contract holder for at least three (3) years after the specified period of coverage has expired. It shall be the responsibility of the insurer issuing the liability policy to make an examination at least every two (2) years of each motor vehicle service contract provider that they insure to assure that each provider is in compliance with the recordkeeping requirements.
Terms Used In Idaho Code 41-6208
- Contract: A legal written agreement that becomes binding when signed.
- Motor vehicle service contract: means a contract or agreement given for separately stated consideration that undertakes to perform or provide repair or replacement service, or indemnification for such service, for the operational or structural failure of a motor vehicle due to defect in materials or workmanship or normal wear and tear but shall not include mechanical breakdown insurance. See Idaho Code 41-6203
- Motor vehicle service contract holder: means a person who purchases a motor vehicle service contract or is a permitted transferee;
Idaho Code 41-6203Motor vehicle service contract provider: means a person who is contractually obligated to a motor vehicle service contract holder under the terms of a motor vehicle service contract;
Idaho Code 41-6203