(1) A warranty contract accompanying a vehicle protection product that is sold or offered for sale shall:
Identify in the contract the warrantor, the seller, the warranty holder, and the terms ofthe sale;
Conspicuously state that the obligations of the warrantor are guaranteed under a warranty reimbursement insurance policy;
Conspicuously state that, if the payment due under the terms of the warranty is notprovided by the warrantor within sixty days after proof of loss has been filed by the warranty holder pursuant to the terms of the warranty, the warranty holder may file a claim for reimbursement directly with the warranty reimbursement insurance company;
Conspicuously state the name and address of the warranty reimbursement insurancecompany;
Conspicuously state: "This agreement is a product warranty and is not insurance.";
Guarantee the warrantor's product with a warranty reimbursement insurance policy;and
Authorize the warranty holder to file a claim directly with the warranty reimbursement insurance company 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.
Source: L. 2004: Entire article added, p. 746, § 1, effective July 1.