Terms Used In Louisiana Revised Statutes 32:1281
- Executive director: means the executive director of the Louisiana Motor Vehicle Commission. See Louisiana Revised Statutes 32:1272
- Vehicle protection product: means a vehicle protection device, system, or service that is:
(i) Installed on or applied to a vehicle. See Louisiana Revised Statutes 32:1272
- warranty: means a written agreement by a warrantor that provides if the vehicle protection product fails to prevent loss or damage to a vehicle from a specific cause, that the warrantor will pay to or on behalf of the warranty holder specified incidental costs as a result of the failure of the vehicle protection product to perform pursuant to the terms of the warranty. See Louisiana Revised Statutes 32:1272
The executive director may adopt such rules and regulations consistent with the provisions of this Chapter as are necessary to implement them. Such rules and regulations shall include disclosures for the benefit of the warranty holder, record keeping, and procedures for public complaints. Such rules and regulations shall also include the conditions under which surplus lines insurers may be rejected for the purpose of underwriting vehicle protection product warranty agreements.
Acts 2007, No. 388, §1, eff. Jan. 1, 2008.