(1) ORS § 646A.150 to 646A.172:

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(a) Create a legal framework within which service contracts may be sold in this state;

(b) Encourage innovation in the marketing and development of more economical and effective means of providing services under service contracts, while placing the risk of innovation on the obligors rather than on consumers; and

(c) Permit and encourage fair and effective competition among different systems of providing and paying for service contracts.

(2) ORS § 646A.150 to 646A.172 do not apply to:

(a) Warranties; or

(b) Maintenance agreements. [Formerly 646.263]