(A) The purpose of this chapter is to create a legal framework within which service contracts may be sold in this State.
(B) This chapter does not apply to:
(1) warranties;
(2) maintenance agreements;
(3) commercial transactions;
(4) warranties, service contracts, or maintenance agreements offered by public utilities on their transmission devices to the extent they are regulated by the Public Service Commission or the Department of Health and Environmental Control;
(5) service contracts sold or offered for sale to persons other than consumers.
(C) Motor vehicle manufacturer's service contracts on the motor vehicle manufacturer's products shall comply with Sections 38-78-50 (A) and (D), to (N), Section 38-78-60, and Section 38-78-100, as applicable.
(D) The types of agreements referred to in subsection (B) of this section do not have to comply with any provision of the insurance laws of this State.
HISTORY: 2000 Act No. 330, Section 2.