Therefore, according to the wording of the ABC service contracts, there does not appear to be any recourse to service contract holders against the motor vehicle dealers who sold them the service contracts. Car dealers are not required to provide services under service contracts, as the terms of service contracts stipulate that the obligation rests exclusively with ABC. However, if the car dealership has done something to indicate to service contract holders that it is required to provide services, the applicant has been ordered to inform the department so that we can investigate the matter. Pursuant to section 155 of the Regulations, it is found at any time that the auditor or service provider has seriously misrepresented his or her financial situation to the Superintendent or that the funded reserve account does not comply with the legal requirements to provide this information in writing to the Superintendent within fifteen days of the determination. The Superintendent may then attempt to suspend or revoke the service provider`s registration. If registration is suspended, revoked or otherwise terminated for more than sixty days and service contracts have been issued and are pending in new York State, the supplier is required under the regulation to immediately transfer the funded reserve account to the Superintendent for the Conservation, Use and Protection of Contractors and the Management of Service Contract Claims. (g) that the syndic has the power to institute proceedings or proceedings against the claimant in order to obtain the funds provided for in paragraph (e) of this division and any other means that may be necessary for the payment of claims and expenses arising from service contracts issued by the service provider; and (2) No, unless the contract expressly provides for such a remedy. (a) Contracts for services marketed, sold or offered for sale, issued, manufactured, offered or administered in that State shall be dated and drafted in clear and intelligible language, and the entire contract for services shall be printed or typed in easy-to-read writing and shall disclose the requirements of this Section, as the case may be. The date on which the service contract is issued does not need to be pre-printed on the service contract and can be added or attached to the service contract at the time of sale. (b) Contracts for services insured under a service contract reimbursement insurance under Paragarph [FN1], one of the subparagraphs (c) of article seven thousand nine hundred and three of this article, contain essentially the following statement: “The obligations of the provider under this service contract are insured under a service contract reimbursement insurance.
The identities of these parties do not need to be pre-printed in the service contract and can be added to the service contract at the time of sale. Service contracts shall clearly indicate the procedure to be followed by the service contract holder to obtain the service in accordance with the terms of the service contract. (e) Service contracts contain the total purchase price and the conditions under which the service contract is sold. The purchase price does not need to be pre-printed in the service contract and can be negotiated with the owner of the service contract at the time of sale. (f) where prior authorisation for repair work is required, service contracts shall specify the procedure for obtaining prior authorisation and for lodging a complaint, including a toll-free telephone number for the claims service, and where service contracts provide services essential to public health, safety or welfare, service contracts: providing twenty-four hour telephone support or the procedure for obtaining emergency repairs outside normal business hours. The Superintendent may make the regulations necessary for the application of this subsection as authorized by section seven thousand nine hundred and eleven of this section. (g) Service contracts shall indicate, where appropriate, the existence of an amount deductible from such contracts. (h) Contracts for services shall specify the goods and services to be provided and, where applicable, any limitations, exceptions or exclusions of coverage under such contracts. (i) Contracts for the provision of services for motor vehicles shall indicate whether the use of parts from the non-original manufacturer is permitted.
The terms indicated must comply with applicable state and federal laws. (j) the service contracts contain all the conditions, limitations or conditions governing the portability of those service contracts. (k) Service contracts shall set out the conditions, restrictions or conditions for termination of the contract for services by the parties to the contract for services. The service contract provider shall send the service contract holder at least fifteen days before termination by the provider a written notice to the last known address of the service contract holder, which shall be included in the provider`s records. The notification shall indicate the date of entry into force of the cancellation and the reason for the cancellation. Written notice is not required if the reason for the cancellation is non-payment of the Supplier`s fees, material misrepresentation or a material breach of the Service Contractor`s obligation with respect to the Covered Property or its use. l) Service contracts must specify all the obligations and obligations of the holder of the service contract, such as.B. the obligation to protect against further damage and the obligation to follow the instructions of the owner. (m) Service contracts shall clearly indicate whether or not the service contract provides for conditions that already exist; n) Service contracts contain a statement of the right of the holder of the service contract to return the contract within a period of at least twenty days from the date of dispatch of the service contract or within a period of at least ten days if the service contract is delivered at the time of sale or within a longer period permitted by the contract. If no claim has been made under the contract, the contract is void and the supplier shall reimburse the contractor for the full purchase price of the contract. The service contract also includes a statement that a penalty of ten percent per month will be added to a refund that is not made within thirty days of the contract being returned to the supplier. § 7908.
Record retention requirements (a) Books and records. If the records are kept in a form other than printed, it must be possible to reproduce the documents in a legible form at the request of the Superintendent. (b) A claimant that ceases to operate in that State shall keep its records until it provides the Superintendent with sufficient evidence that it has fulfilled all of its obligations to the holders of contracts for services in that State. § 7904. Required disclosures; Service Contract Reimbursement Insurance PolicyService Requirements Reimbursement insurance that insures service contracts issued, sold or offered for sale in that State must indicate that the insurer that issued the reimbursement insurance policy for the service contract pays, on behalf of the supplier, all amounts that the supplier is legally required to pay, on behalf of the supplier, all amounts for which Payment of suppliers under the service contract or provides the service that the supplier is legally required to provide under the supplier`s contractual obligations under the service contracts issued or sold by the supplier. . . .
