Vermont Statutes Title 8 Sec. 4248
Terms Used In Vermont Statutes Title 8 Sec. 4248
- Commissioner: means the Commissioner of Financial Regulation. See
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to a section of the law shall mean the next preceding or following section. See
- Person: shall include any natural person, corporation, municipality, the State of Vermont or any department, agency, or subdivision of the State, and any partnership, unincorporated association, or other legal entity. See
- Provider: means a person who issues, makes, or provides a service contract, and who is contractually obligated to provide service under a service contract and is not the manufacturer. See
- Service of process: The service of writs or summonses to the appropriate party.
- State: when applied to the different parts of the United States may apply to the District of Columbia and any territory and the Commonwealth of Puerto Rico. See
§ 4248. Registration required
(a) All providers of service contracts issued, sold, or covering property located in this State shall file a registration with the Commissioner on a form prescribed by the Commissioner. Such registrations shall be renewed every three years. Providers shall submit a $600.00 fee at the time of registration and at the time of each renewal.
(b) The following are exempt from the scope of this subchapter, inclusive of this subchapter:
(1) warranties;
(2) maintenance agreements; and
(3) service contracts sold or offered for sale in commercial transactions.
(c) The types of agreements defined as service contracts in this subchapter or excluded from coverage by subsection (b) of this section are not insurance under Vermont law.
(d) A foreign or alien provider shall not transact business in this State until it has either registered with the Secretary of State to do business in Vermont or, if it is not registered to do business in Vermont, filed with the Commissioner the name and address of a person in this State upon whom service of process may be served. Failure to file such information with the Commissioner within 60 days of entering into a Vermont service contract shall constitute an appointment by such provider of the Secretary of State as its agent for service of process. (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)