17:18-20 Requirements for issuance of vehicle protection product warranty.

176 words·~1 min read·/nj/title-17/chapter-18/17-18-20

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

2. A vehicle protection product warranty offered or issued in this State shall:

a. Identify the warrantor, the seller, the warranty holder and the terms of the sale;

b. Conspicuously and in plain English set forth in writing the obligations of the warrantor to the warranty holder, and state that those obligations are guaranteed under a warranty reimbursement insurance policy;

c. Conspicuously state that if the payment due under the terms of the warranty is not provided by the warrantor within sixty days after proof of loss has been filed pursuant to the terms of the warranty by the warranty holder, the warranty holder may file directly with the warranty reimbursement insurance company for reimbursement;

d. Conspicuously state the name and address of the company issuing the warranty reimbursement insurance policy and, if different, the complete address at which a claim may be filed; and

e. Contain a disclosure that reads substantially as follows:

THIS AGREEMENT IS A PRODUCT WARRANTY, NOT INSURANCE, AND IS UNDER THE PURVIEW OF THE DIVISION OF CONSUMER AFFAIRS.

L.2007, c.166, s.2.