Terms Used In Iowa Code > Chapter 523C - Residential and Motor Vehicle Service Contracts

• Account: means the same as defined in section 554. See Iowa Code 554E.1
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Commission: means the real estate commission as established by chapter 543B. See Iowa Code 543C.1
• Commissioner: means the commissioner of insurance. See Iowa Code 523C.1
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Contract: means the same as defined in section 554D. See Iowa Code 554E.1
• Contract: A legal written agreement that becomes binding when signed.
• Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
• Electronic: means the same as defined in section 554D. See Iowa Code 554E.1
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
• following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
• Germane: On the subject of the pending bill or other business; a strict standard of relevance.
• Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. ^{Source: FDIC}
• Insurer: means a person duly licensed in this state as an insurance company pursuant to this subtitle. See Iowa Code 510.1B
• Internet: means the federated international system that is composed of allied electronic communication networks linked by telecommunication channels, that uses standardized protocols, and that facilitates electronic communication services, including but not limited to use of the world wide web; the transmission of electronic mail or messages; the transfer of files and data or other electronic information; and the transmission of voice, image, and video. See Iowa Code 4.1
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Licensed service company: means a service company which is licensed by the commissioner pursuant to this chapter. See Iowa Code 523C.1
• Maintenance agreement: means a contract of any duration that provides for scheduled maintenance to property. See Iowa Code 523C.1
• month: means a calendar month, and the word "year" and the abbreviation "A. See Iowa Code 4.1
• Motor vehicle: means any self-propelled vehicle subject to registration under chapter 321. See Iowa Code 523C.1
• Motor vehicle manufacturer: means any of the following:
   a. See Iowa Code 523C.1
• Motor vehicle service contract: means a contract or agreement sold for separate consideration for a specific duration that undertakes to perform the repair, replacement, or maintenance of a motor vehicle, or indemnification for such repair, replacement, or maintenance, for the operation or structural failure of a motor vehicle due to a defect in materials, workmanship, or normal wear and tear, with or without additional provisions for the incidental payment of indemnity under limited circumstances, including but not limited to motor vehicle towing, rental, emergency road service, and road hazard protection. See Iowa Code 523C.1
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Oversight: Committee review of the activities of a Federal agency or program.
• person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
• Premium: means the consideration paid to an insurer for a reimbursement insurance policy. See Iowa Code 523C.1
• Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
• property: includes personal and real property. See Iowa Code 4.1
• record: includes but is not limited to documents, books, publications, accounts, correspondence, memoranda, agreements, computer files, film, microfilm, photographs, and audio or visual tapes. See Iowa Code 523C.1
• Reimbursement insurance policy: means a contractual liability insurance policy issued to a service company that either provides reimbursement to a service company under the terms of insured service contracts issued or sold by the service company or, in the event of nonperformance by the service company, pays, on behalf of the service company, all covered contractual obligations incurred by the service company under the terms of the insured service contracts issued or sold by the service company. See Iowa Code 523C.1
• Residential service contract: means a contract or agreement between a residential customer and a service company which undertakes, for a predetermined fee and for any period of time, to service, maintain, repair, replace, or indemnify expenses for all or any part of the operational or structural components, appliances, or electrical, mechanical, plumbing, heating, cooling, or air-conditioning systems of residential property in the state which fails due to normal wear or tear or inherent defect. See Iowa Code 523C.1
• road: include public bridges, and may be held equivalent to the words "county way" "county road" "common road" and "state road". See Iowa Code 4.1
• Rule: includes "regulation". See Iowa Code 4.1
• Sale: means any sale, offer for sale, or attempt to sell or lease any land, to the public in this state, for cash or on credit. See Iowa Code 543C.1
• Service company: means a person who is contractually obligated to perform services pursuant to a motor vehicle service contract or residential service contract. See Iowa Code 523C.1
• Service contract: means a motor vehicle service contract or residential service contract. See Iowa Code 523C.1
• Service of process: The service of writs or summonses to the appropriate party.
• Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
• state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
• Subpoena: A command to a witness to appear and give testimony.
• Testify: Answer questions in court.
• Testimony: Evidence presented orally by witnesses during trials or before grand juries.
• Transaction: means a sale, trade, exchange, transfer, payment, or conversion of a digital asset or any other property or any other action or set of actions occurring between two or more persons relating to the conduct of business, commercial, or governmental affairs. See Iowa Code 554E.1
• Warranty: means a statement made solely by the manufacturer, importer, or seller of property or services without consideration, that is not negotiated or separated from the sale of the product and is incidental to the sale of the product, and that guarantees indemnity for defective parts, mechanical or electrical breakdown, and labor or other remedial measures, such as repair or replacement of the property or repetition of services. See Iowa Code 523C.1
• year: means twelve consecutive months. See Iowa Code 4.1