(a) A person may not operate as a warrantor, or represent to the public that the person is a warrantor, unless the person is registered with the department on a form prescribed by the commissioner.

Terms Used In Tennessee Code 56-55-104

  • 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. See Tennessee Code 56-55-102
  • Commissioner: means the commissioner of commerce and insurance. See Tennessee Code 56-55-102
  • Department: means the department of commerce and insurance. See Tennessee Code 56-1-102
  • Person: means any association, aggregate of individuals, business, company, corporation, individual, joint-stock company, Lloyds-type organization, organization, partnership, receiver, reciprocal or interinsurance exchange, trustee or society. See Tennessee Code 56-16-102
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Vehicle protection product: 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 Tennessee Code 56-55-102
  • warrantor: means a person who is contractually obligated to the warranty holder under the terms of the vehicle protection product warranty agreement. See Tennessee Code 56-55-102
  • warranty: means a written agreement by a warrantor that provides that, if the vehicle protection product fails to prevent loss or damage to a vehicle from a specific cause, then the warranty holder shall be paid specified incidental costs by the warrantor as a result of the failure of the vehicle protection product to perform pursuant to the terms of the warranty. See Tennessee Code 56-55-102
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
(b) Warrantor registration records shall be filed annually and shall be updated by the warrantor within thirty (30) days of any change. The registration records shall contain the following information:

(1) The warrantor’s name, any other names under which the warrantor does business in this state, principal office address, and telephone number;
(2) The names of the warrantor’s executive officer or officers directly responsible for the warrantor’s vehicle protection product business;
(3) 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;
(4) A copy of the warranty reimbursement insurance policy or policies, or other financial information required by § 56-55-105;
(5) A copy of each warranty the warrantor proposes to use in this state; and
(6) A statement indicating under which provision of § 56-55-105 the warrantor qualifies to do business in this state as a warrantor.
(c) The commissioner may charge each registrant a reasonable fee to offset the cost of processing the registration and maintaining the records. The fee shall be set by the commissioner in an amount not to exceed the amount necessary to defray the department’s expenses in administering this chapter.
(d) If a registrant fails to register by the renewal deadline, the commissioner shall give the registrant written notice of the failure, and the registrant shall have thirty (30) days to complete the renewal of the registration before the registration is revoked. Revocation for failure to renew a registration does not require any additional notice or a hearing.
(e) An administrator or person who sells or solicits a sale of a vehicle protection product, but who is not a warrantor, shall not be required to register as a warrantor, or be licensed under the insurance laws of this state, to sell vehicle protection products.
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