Terms Used In South Carolina Code > Title 33 > Chapter 42 > Article 11 - Miscellaneous

• Administrator: means the person who is responsible for the administration of the service contracts or the service contracts plan or who is responsible for any filings required by this chapter. See South Carolina Code 38-78-20
• Commission: means the part of the premium paid to the producer as compensation for his services. See South Carolina Code 38-1-20
• Contract: A legal written agreement that becomes binding when signed.
• contract holder: means a person who is the purchaser or holder of a service contract. See South Carolina Code 38-78-20
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Department: means the Department of Insurance of South Carolina. See South Carolina Code 38-1-20
• Director: means the Director of the Department of Insurance. See South Carolina Code 38-78-20
• 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.
• 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}
• insurance: includes annuities. See South Carolina Code 38-1-20
• Insurance company: means an "insurer". See South Carolina Code 38-1-20
• Insurer: includes a corporation, fraternal organization, burial association, other association, partnership, society, order, individual, or aggregation of individuals engaging or proposing or attempting to engage as principals in any kind of insurance or surety business, including the exchanging of reciprocal or interinsurance contracts between individuals, partnerships, and corporations. See South Carolina Code 38-1-20
• Motor vehicle manufacturer: means a person that:
  
  (a) manufactures or produces motor vehicles and sells motor vehicles under its own name or label;
  
  (b) is a wholly owned subsidiary of the person who manufactures or produces motor vehicles;
  
  (c) is a corporation which owns one hundred percent of the person who manufactures or produces motor vehicles;
  
  (d) does not manufacture or produce motor vehicles, but sells motor vehicles under its trade name label;
  
  (e) manufactures or produces motor vehicles and sells such motor vehicles under the trade name or label of another person; or
  
  (f) does not manufacture or produce motor vehicles but, pursuant to a written contract, licenses the use of its trade name or label to another person that sells motor vehicles under the licensor's trade name or label. See South Carolina Code 38-78-20
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• Person: means a natural person, partnership, limited partnership (domestic or foreign), trust, estate, association, or corporation. See South Carolina Code 33-42-20
• Person: means an individual, partnership, corporation, incorporated or unincorporated association, joint stock company, reciprocal, syndicate, or any similar entity or combination of entities acting in concert. See South Carolina Code 38-78-20
• Personal property: All property that is not real property.
• Policy: means a contract of insurance. See South Carolina Code 38-1-20
• Premium: means the consideration paid to an insurer for a reimbursement insurance policy. See South Carolina Code 38-78-20
• Provider: means a person who is contractually obligated to the service contract holder under the terms of the service contract. See South Carolina Code 38-78-20
• Provider fee: means the consideration paid for a service contract. See South Carolina Code 38-78-20
• Reimbursement insurance policy: means a policy of insurance issued to a provider to either provide reimbursement to the provider under the terms of the insured service contracts issued or sold by the provider or, in the event of the provider's nonperformance, to pay on behalf of the provider all covered contractual obligations incurred by the provider under the terms of the insured service contracts issued or sold by the provider. See South Carolina Code 38-78-20
• Sell: means to exchange a contract of insurance by any means, for money or its equivalent, on behalf of an insurance company. See South Carolina Code 38-1-20
• Service contract: includes a contract or agreement for a separately stated consideration for a specific duration to perform one or more of the following services:
  
  (a) the repair or replacement of tires and wheels on a motor vehicle damaged as a result of coming into contact with road hazards;
  
  (b) the removal of dents, dings, or creases on a motor vehicle that can be repaired using the process of paintless dent removal without affecting the existing paint finish and without sanding, bonding, painting, or replacing a vehicle body panel;
  
  (c) the replacement of a motor vehicle key or key fob in the event that the key or key fob becomes inoperable, lost, or stolen; and
  
  (d) other services consistent with the provisions of this chapter approved by the director. See South Carolina Code 38-78-20
• State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See South Carolina Code 33-42-20
• Surety: includes insurance or a bond that covers obligations to pay the debts, or answer for the default, of another, including faithlessness in a position of public or private trust. See South Carolina Code 38-1-20
• theft protection program: includes , but is not limited to, alarm systems, body-part marking products, steering locks, window etch products, pedal and ignition locks, fuel and ignition kill switches, and electronic, radio, and satellite tracking devices. See South Carolina Code 38-78-20
• Theft protection program warranty: means a written agreement by a warrantor that provides the warrantor will pay to or on behalf of the warranty holder specified incidental costs not to exceed five thousand dollars as a result of the failure of the theft protection program to prevent loss or damage to a motor vehicle pursuant to the terms of the warranty. See South Carolina Code 38-78-20
• Warranty: means a warranty made solely by the manufacturer, importer, or seller of property or services without charge, that is not negotiated or separated from the sale of the product, that is incidental to the sale of the product, and that guarantees indemnity for defective parts, mechanical or electrical breakdown, labor, or other remedial measures, such as repair or replacement of the property or repetition of services. See South Carolina Code 38-78-20