NY State Senate Bill 2021-S3580

Archive: Last Bill Status - In Senate Committee Insurance Committee

Introduced
- In Committee Assembly
- In Committee Senate
- On Floor Calendar Assembly
- On Floor Calendar Senate
- Passed Assembly
- Passed Senate
Delivered to Governor
Signed By Governor

Please enter your contact information

First Name

Last Name

Email Address

A valid email address is required.

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.

Actions

View Actions

	Assembly Actions - Lowercase Senate Actions - UPPERCASE
Jan 05, 2022	referred to insurance
Jan 30, 2021	referred to insurance

2021-S3580 (ACTIVE) - Details

Current Committee:: Senate Insurance
Law Section:: Insurance Law
Laws Affected:: Add Art 79-A §§7951 - 7967, Ins L
Versions Introduced in Other Legislative Sessions:: 2017-2018: S8589
2019-2020: S3643

2021-S3580 (ACTIVE) - Summary

Relates to theft protection warranties; defines theft protection program as a device installed on or applied to a motor vehicle that is designed to prevent loss or damage to a motor vehicle from theft and includes a warranty; exempts such programs and warranties from general provisions of the insurance law.

2021-S3580 (ACTIVE) - Sponsor Memo

                                
 
BILL NUMBER: S3580

SPONSOR: BRESLIN
 
TITLE OF BILL:

An act to amend the insurance law, in relation to theft protection
products

 
PURPOSE:

This bill would permit the sale of theft protection warranty plans in
the state of New York.

 
SUMMARY OF PROVISIONS:

Section 1 of the bill creates a new article 79-A that would permit and
provide for the regulation of theft protection warranty plans in New
York, specifically:

Section 7951 provides for the purpose and intent of the legislation to
allow for the sale of theft protection program warranties, and makes

clear such products are not insurance;

Section 7952 provides for necessary definitions under the new article;

Section 7953 provides for registration with the Department of Financial
Services, and the amount of the annual fee;

Section 7951 provides for the financial requirements to operate the
program and assurances that must be proved and provided for to the
Department of Financial Services in order to be registered as a warran-
tor of theft protection program warranties;

Section 7955 provides the means and methods that a copy cf the theft
protection program warranty must be provided to the purchaser of the
warranty;

Section 7956 provides for all required disclosures that must be made
when selling or offering for sale theft protection program warranties in
New York;

Section 7957 provides for additional protection to consumers in the
event that the warrantor fails to be able to perform or make payment on
a theft protection program warranty;

Section 7958 provides that the program is not insurance;

Section 7959 prohibits certain actions by warrantors under this article,
including referring or implying that the product is insurance, making
any false or misleading statements, requiring the purchase of the prod-
uct in order to obtain financing, making any false or misleading state-
ments regarding affiliation with a manufacturer, and making any false or
misleading statements regarding the relationship between the theft
protection program warranty and other applicable warranties on the vehi-
cle;

Section. 7960 provides for record keeping requirements for theft
protection warranty program. warrantors, and requires retention for at

least one year of all records after all obligations under the warranty
have been discharged;

Section 7961 provides for the procedures when a. reimbursement insurance
policy covering a warrantor operating a theft protection warranty
program is cancelled;

Section 7962 provides for the obligations of reimbursement insurance
policy issuers who issue such insurance to warrantors under this arti-
cle, and provide for direction of funds to consumers;

Section 7963 provides for enforcement by the Department of Financial
Services under the article for any violations;

Section 7963 provides for how fees and premiums shall be taxed;

Section 7965 provides for severability of the sections of the article in
the event that any individual provision shall be held to be invalid;

Section 7966 provides for the applicability of the section, and provides
that the failure to comply cannot be used against a person until after
the effective date of the section, and no penalties can be issued for
prior conduct in the sale of theft protection warranty plans;

Section 967 provides that if any entity is engaged in offering theft
protection products currently may continue to do so, so long as they
file an application and registration with DFS within 30 days of the
effective date of this section.

 
JUSTIFICATION:

Theft Protection Program warranties provide coverage for a vehicle if
the theft protection purchased by the consumer fails and the vehicle is
stolen. These products can vary from alarm and tracking systems, to
conspicuous etching of TIN numbers onto the vehicle in order to prevent
and deter theft, as well as assist law enforcement in recovering any
stolen vehicles. The warranty ensures that consumers receive a defini-
tive benefit for purchasing theft. protection plan products in the event
that the product fails to perform as intended.  Currently, many New
Yorkers do not have access to theft protection warranty plans that fully
protect their vehicles. The present regulatory scheme treats theft
protection warranty plans as insurance, and requires any business or
entity wishing to provide said products to comply with a number of
insurance regulations that have little applicability to the product
being offered. This bill will ensure that consumers have access to and
receive benefits from these warranties and plans, while allowing compa-
nies to offer these types of warranty products under less stringent
regulatory standards than those placed on the insurance industry.

 
LEGISLATIVE HISTORY:

S3643 of 2019-20. S73589 of 2017-18.

 
FISCAL IMPLICATIONS:

None.

 
EFFECTIVE DATE:
This act shall take effect on January 1, 2020.

2021-S3580 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   3580
 
                        2021-2022 Regular Sessions
 
                             I N  S E N A T E
 
                             January 30, 2021
                                ___________
 
 Introduced  by  Sen. BRESLIN -- read twice and ordered printed, and when
   printed to be committed to the Committee on Insurance
 
 AN ACT to amend the insurance  law,  in  relation  to  theft  protection
   products
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. The insurance law is amended by adding a new  article  79-A
 to read as follows:
                               ARTICLE 79-A
                         THEFT PROTECTION PRODUCTS
 SECTION 7951. SCOPE AND PURPOSE.
         7952. DEFINITIONS.
         7953. WARRANTOR REGISTRATION REQUIRED.
         7954. WARRANTOR FINANCIAL REQUIREMENTS.
         7955. THEFT PROTECTION PROGRAM WARRANTY RECEIPT REQUIRED.
         7956. REQUIRED DISCLOSURES.
         7957. REQUIRED DISCLOSURES; REIMBURSEMENT INSURANCE POLICY.
         7958. THEFT PROTECTION PROGRAM WARRANTY NOT INSURANCE.
         7959. PROHIBITED ACTS.
         7960. RECORD-KEEPING REQUIREMENTS.
         7961. CANCELLATION OF REIMBURSEMENT INSURANCE POLICY.
         7962. OBLIGATION OF REIMBURSEMENT INSURANCE POLICY INSURERS.
         7963. ENFORCEMENT PROVISIONS.
         7964. PREMIUM TAXES.
         7965. SEVERABILITY.
         7966. APPLICABILITY.
         7967. EFFECT ON CURRENT BUSINESS.
   §  7951.  SCOPE  AND  PURPOSE.  (A)  THE PURPOSE OF THIS ARTICLE IS TO
 CREATE A LEGAL FRAMEWORK WITHIN WHICH THEFT PROTECTION  PROGRAM  WARRAN-
 TIES,  AS  DEFINED  IN THIS ARTICLE, ARE REGULATED AND MAY BE OFFERED IN
 THIS STATE.  NOTWITHSTANDING ANY OTHER SECTION OF LAW, INCLUDING BUT NOT
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.

                                                            LBD07551-01-1

 S. 3580                             2
 
 LIMITED TO SECTION THREE THOUSAND FOUR HUNDRED FORTY-SIX OF  THIS  CHAP-
 TER,  THEFT  PROTECTION  PROGRAM  WARRANTIES SHALL NOT BE SUBJECT TO ANY
 LAWS, RULES, OR REGULATIONS RELATED TO THE OFFERING, SALE,  OR  ISSUANCE
 OF INSURANCE IN THIS STATE.
   (B) THE FOLLOWING ARE EXEMPT FROM THIS ARTICLE:
   (1)  MAINTENANCE  AGREEMENTS  AS  DEFINED  UNDER SECTION THREE HUNDRED
 NINETY-FIVE-A OF THE GENERAL BUSINESS LAW;
   (2) SERVICE CONTRACTS AS DEFINED IN ARTICLE SEVENTY-NINE OF THIS CHAP-
 TER;
   (3) MOTOR CLUBS; AND
   (4) GAP WAIVER AGREEMENTS AS COVERED UNDER SECTION THREE HUNDRED  TWOA
 OF THE PERSONAL PROPERTY LAW.
   §  7952.  DEFINITIONS.  AS  USED  IN THIS SECTION: (A) "ADMINISTRATOR"
 MEANS THE PERSON WHO IS RESPONSIBLE FOR THE ADMINISTRATION OF THE  THEFT
 PROTECTION PROGRAM WARRANTY.
   (B)  "INCIDENTAL COSTS" MEANS EXPENSES SPECIFIED IN A THEFT PROTECTION
 PROGRAM WARRANTY THAT ARE INCURRED BY THE WARRANTY  HOLDER  DUE  TO  THE
 FAILURE  OF  A  THEFT  PROTECTION  PROGRAM TO PERFORM AS PROVIDED IN THE
 THEFT PROTECTION PROGRAM WARRANTY. INCIDENTAL COSTS MAY INCLUDE, WITHOUT
 LIMITATION, INSURANCE POLICY DEDUCTIBLES, RENTAL  VEHICLE  CHARGES,  THE
 DIFFERENCE BETWEEN THE ACTUAL VALUE OF THE STOLEN VEHICLE AT THE TIME OF
 THEFT  AND  THE COST OF A REPLACEMENT VEHICLE, SALES TAXES, REGISTRATION
 FEES, TRANSACTION FEES, AND  MECHANICAL  INSPECTION  FEES.    INCIDENTAL
 COSTS  MAY BE REIMBURSED IN EITHER A FIXED AMOUNT SPECIFIED IN THE THEFT
 PROTECTION PROGRAM WARRANTY OR BY USE OF A  FORMULA  ITEMIZING  SPECIFIC
 INCIDENTAL COSTS INCURRED BY THE WARRANTY HOLDER.
   (C)  "MOTOR  VEHICLE"  MEANS SELF-PROPELLED OR TOWED VEHICLES DESIGNED
 FOR PERSONAL OR COMMERCIAL USE, INCLUDING BUT  NOT  LIMITED  TO  AUTOMO-
 BILES, TRUCKS, MOTORCYCLES, RECREATIONAL VEHICLES, ALL-TERRAIN VEHICLES,
 SNOWMOBILES,  CAMPERS, BOATS, PERSONAL WATERCRAFT, AND MOTORCYCLE, BOAT,
 CAMPER, AND PERSONAL WATERCRAFT TRAILERS.
   (D) "THEFT PROTECTION PROGRAM" MEANS A DEVICE OR SYSTEM  THAT  (1)  IS
 INSTALLED  ON  OR APPLIED TO A MOTOR VEHICLE, (2) IS DESIGNED TO PREVENT
 LOSS OR DAMAGE TO A MOTOR VEHICLE FROM THEFT, AND (3) INCLUDES  A  THEFT
 PROTECTION  PROGRAM  WARRANTY.  FOR  PURPOSES  OF THIS SECTION, THE TERM
 THEFT PROTECTION PROGRAM SHALL INCLUDE, BUT NOT  BE  LIMITED  TO,  ALARM
 SYSTEMS,  BODY  PART  MARKING  PRODUCTS,  STEERING  LOCKS,  WINDOW  ETCH
 PRODUCTS, PEDAL AND IGNITION LOCKS, FUEL AND IGNITION KILL SWITCHES, AND
 ELECTRONIC, RADIO, AND  SATELLITE  TRACKING  DEVICES.  THEFT  PROTECTION
 PROGRAM  DOES NOT INCLUDE FUEL ADDITIVES, OIL ADDITIVES, OR OTHER CHEMI-
 CAL PRODUCTS APPLIED TO THE ENGINE, TRANSMISSION,  OR  FUEL  SYSTEM,  OR
 INTERIOR OR EXTERIOR SURFACES OF A MOTOR VEHICLE.
   (E) "THEFT PROTECTION PROGRAM WARRANTY" MEANS A WRITTEN AGREEMENT BY A
 WARRANTOR THAT PROVIDES IF THE THEFT PROTECTION PROGRAM FAILS TO PREVENT
 LOSS  OR  DAMAGE  TO A MOTOR VEHICLE FROM THEFT, THAT THE WARRANTOR WILL
 PAY TO OR ON BEHALF OF THE WARRANTY HOLDER SPECIFIED INCIDENTAL COSTS AS
 A RESULT OF THE FAILURE OF  THE  THEFT  PROTECTION  PROGRAM  TO  PERFORM
 PURSUANT TO THE TERMS OF THE THEFT PROTECTION PROGRAM WARRANTY.
   (F)  "PERSON" MEANS AN INDIVIDUAL, COMPANY, ASSOCIATION, ORGANIZATION,
 PARTNERSHIP, BUSINESS TRUST, CORPORATION, OR ANY  OTHER  FORM  OF  LEGAL
 ENTITY.
   (G)  "REIMBURSEMENT  INSURANCE  POLICY"  MEANS  A  POLICY OF INSURANCE
 ISSUED TO A WARRANTOR TO EITHER PROVIDE REIMBURSEMENT TO  THE  WARRANTOR
 UNDER  THE  TERMS  OF THE DESIGNATED THEFT PROTECTION PROGRAM WARRANTIES
 ISSUED BY THE WARRANTOR, IN THE EVENT  OF  THE  WARRANTOR'S  NON-PERFOR-
 MANCE,  TO  PAY  ON BEHALF OF THE WARRANTOR ALL COVERED THEFT PROTECTION

 S. 3580                             3
 
 PROGRAM WARRANTY OBLIGATIONS INCURRED BY THE WARRANTOR UNDER  THE  TERMS
 OF THE INSURED THEFT PROTECTION PROGRAM WARRANTIES.
   (H)   "WARRANTY  HOLDER"  MEANS  THE  PERSON  WHO  PURCHASES  A  THEFT
 PROTECTION  PROGRAM,  ANY  AUTHORIZED  TRANSFEREE  OR  ASSIGNEE  OF  THE
 PURCHASER,  OR  ANY OTHER PERSON LEGALLY ASSUMING THE PURCHASER'S RIGHTS
 UNDER THE ANTI-THEFT PROTECTION PROGRAM THEFT PROTECTION PROGRAM WARRAN-
 TY.
   (I) "WARRANTOR" MEANS A PERSON WHO IS OBLIGATED TO THE WARRANTY HOLDER
 UNDER THE TERMS OF THE THEFT PROTECTION PROGRAM WARRANTY.
   § 7953. WARRANTOR REGISTRATION REQUIRED. (A) EACH WARRANTOR  INTENDING
 TO  ISSUE THEFT PROTECTION PROGRAM WARRANTIES IN THIS STATE SHALL FILE A
 REGISTRATION WITH THE SUPERINTENDENT  CONSISTING  OF  THEIR  NAME,  FULL
 CORPORATE  ADDRESS,  TELEPHONE NUMBER AND CONTACT PERSON AND DESIGNATE A
 PERSON IN THIS STATE FOR SERVICE OF PROCESS. EACH WARRANTOR SHALL PAY TO
 THE SUPERINTENDENT A FEE IN THE  AMOUNT  OF  TWO  HUNDRED  DOLLARS  UPON
 INITIAL  REGISTRATION  AND EVERY YEAR THEREAFTER. SAID REGISTRATION NEED
 ONLY BE UPDATED BY WRITTEN NOTIFICATION TO THE SUPERINTENDENT IF MATERI-
 AL CHANGES OCCUR IN THE REGISTRATION ON FILE.
   (B) A WARRANTOR MAY, BUT IS NOT REQUIRED TO, APPOINT AN  ADMINISTRATOR
 OR OTHER DESIGNEE TO BE RESPONSIBLE FOR ANY OR ALL OF THE ADMINISTRATION
 OF  ITS  THEFT  PROTECTION  PROGRAM  WARRANTIES AND COMPLIANCE WITH THIS
 ARTICLE.
   (C)  OTHER  THAN  THE  WARRANTOR  REGISTRATION  REQUIREMENTS  IN  THIS
 SECTION, WARRANTORS AND RELATED THEFT PROTECTION PROGRAM SELLERS, ADMIN-
 ISTRATORS,  AND  OTHER  PERSONS  MARKETING, SELLING, OFFERING TO SELL OR
 ISSUING THEFT PROTECTION PROGRAMS ARE EXEMPT FROM ANY LICENSING REQUIRE-
 MENTS OF THIS STATE IN ORDER TO CONDUCT THEFT PROTECTION PROGRAM WARRAN-
 TY BUSINESS.
   § 7954. WARRANTOR FINANCIAL REQUIREMENTS. (A) IN ORDER TO  ASSURE  THE
 FAITHFUL  PERFORMANCE  OF A WARRANTOR'S OBLIGATIONS TO ITS WARRANT HOLD-
 ERS, EACH WARRANTOR SHALL BE RESPONSIBLE FOR COMPLYING WITH THE REQUIRE-
 MENTS OF ONE OF THE FOLLOWING PROVISIONS:
   (1) INSURE ALL THEFT PROTECTION PROGRAM WARRANTIES UNDER A  REIMBURSE-
 MENT  INSURANCE  POLICY  ISSUED  BY  AN INSURER LICENSED, REGISTERED, OR
 OTHERWISE AUTHORIZED TO DO BUSINESS IN THIS STATE, AND EITHER:
   (A) AT THE TIME THE POLICY  IS  FILED  WITH  THE  SUPERINTENDENT,  AND
 CONTINUOUSLY  THEREAFTER,  (I)  MAINTAIN SURPLUS AS TO POLICYHOLDERS AND
 PAID-IN CAPITAL OF AT LEAST FIFTEEN MILLION DOLLARS  AND  (II)  ANNUALLY
 FILE  COPIES  OF  THE  INSURER'S  FINANCIAL  STATEMENTS, ITS NAIC ANNUAL
 STATEMENT, AND THE ACTUARIAL CERTIFICATION REQUIRED BY AND FILED IN  THE
 INSURER'S STATE OF DOMICILE; OR
   (B)  AT  THE  TIME  THE  POLICY  IS FILED WITH THE SUPERINTENDENT, AND
 CONTINUOUSLY THEREAFTER, (I) MAINTAIN SURPLUS AS  TO  POLICYHOLDERS  AND
 PAID-IN  CAPITAL OF LESS THAN FIFTEEN MILLION DOLLARS BUT AT LEAST EQUAL
 TO TEN MILLION DOLLARS, (II) DEMONSTRATE  TO  THE  SATISFACTION  OF  THE
 SUPERINTENDENT  THAT THE COMPANY MAINTAINS A RATIO OF NET WRITTEN PREMI-
 UMS, WHEREVER WRITTEN, TO SURPLUS AS TO POLICYHOLDERS AND PAID-IN  CAPI-
 TAL  OF NOT GREATER THAN THREE TO ONE, AND (III) ANNUALLY FILE COPIES OF
 THE INSURER'S AUDITED FINANCIAL STATEMENTS, ITS NAIC  ANNUAL  STATEMENT,
 AND  THE  ACTUARIAL CERTIFICATION REQUIRED BY AND FILED IN THE INSURER'S
 STATE OF DOMICILE; OR
   (2)(A) MAINTAIN A FUNDED RESERVE ACCOUNT FOR ITS OBLIGATIONS UNDER ITS
 THEFT PROTECTION PROGRAM  WARRANTIES  ISSUED  AND  OUTSTANDING  IN  THIS
 STATE.    THE  RESERVES  SHALL  NOT  BE LESS THAN FORTY PERCENT OF GROSS
 CONSIDERATION RECEIVED, LESS CLAIMS PAID,  ON  THE  SALE  OF  THE  THEFT
 PROTECTION  PROGRAM  WARRANTY  FOR ALL IN-FORCE THEFT PROTECTION PROGRAM

 S. 3580                             4
 
 WARRANTIES. THE RESERVE ACCOUNT SHALL  BE  SUBJECT  TO  EXAMINATION  AND
 REVIEW BY THE SUPERINTENDENT; AND
   (B) PLACE IN TRUST WITH THE SUPERINTENDENT A FINANCIAL SECURITY DEPOS-
 IT,  HAVING A VALUE OF NOT LESS THAN FIVE PERCENT OF THE GROSS CONSIDER-
 ATION RECEIVED, LESS CLAIMS PAID, ON THE SALE OF  THE  THEFT  PROTECTION
 PROGRAM  WARRANTY FOR ALL THEFT PROTECTION PROGRAM WARRANTIES ISSUED AND
 IN-FORCE, BUT NOT LESS THAN TWENTY-FIVE THOUSAND DOLLARS  CONSISTING  OF
 ONE OF THE FOLLOWING:
   (I) A SURETY BOND ISSUED BY AN AUTHORIZED SURETY;
   (II)  SECURITIES OF THE TYPE ELIGIBLE FOR DEPOSIT BY AUTHORIZED INSUR-
 ERS IN THIS STATE;
   (III) CASH;
   (IV) A LETTER OF CREDIT ISSUED BY A QUALIFIED  FINANCIAL  INSTITUTION;
 OR
   (V)  ANOTHER  FORM OF SECURITY PRESCRIBED BY REGULATIONS ISSUED BY THE
 SUPERINTENDENT.
   (B) EXCEPT FOR THE REQUIREMENTS SPECIFIED IN THIS  SECTION,  NO  OTHER
 FINANCIAL  SECURITY REQUIREMENTS SHALL BE REQUIRED BY THE SUPERINTENDENT
 FOR WARRANTORS.
   § 7955. THEFT PROTECTION PROGRAM WARRANTY RECEIPT REQUIRED. (A)  THEFT
 PROTECTION  PROGRAM  WARRANTIES SHALL NOT BE ISSUED IN THIS STATE UNLESS
 THE WARRANTOR PROVIDES A COPY OF THE THEFT PROTECTION  PROGRAM  WARRANTY
 TO  THE WARRANTY HOLDER WITHIN A REASONABLE PERIOD OF TIME FROM THE DATE
 OF PURCHASE. A WARRANTY MAY COMPLY WITH THIS PROVISION BY PROVIDING  THE
 HOLDER  WITH A PHYSICAL COPY OF THE COMPLETE TERMS AND CONDITIONS OF THE
 THEFT PROTECTION PROGRAM  WARRANTY,  BY  DIRECTING  THE  CONSUMER  TO  A
 WEBSITE  CONTAINING  A  COPY OF THE COMPLETE TERMS AND CONDITIONS OF THE
 THEFT PROTECTION PROGRAM WARRANTY,  OR  BY  DELIVERING  A  COPY  OF  THE
 COMPLETE  TERMS  AND CONDITIONS OF THE THEFT PROTECTION PROGRAM WARRANTY
 VIA ELECTRONIC MAIL.
   (B) A WARRANTOR SHALL PROVIDE A CONSUMER WITH A COMPLETE  SAMPLE  COPY
 OF  THE  THEFT PROTECTION PROGRAM WARRANTY TERMS AND CONDITIONS PRIOR TO
 THE TIME OF SALE UPON A REQUEST FOR THE SAME BY THE CONSUMER. A  WARRAN-
 TOR  MAY  COMPLY  WITH  THIS  PROVISION BY PROVIDING THE CONSUMER WITH A
 COMPLETE SAMPLE COPY OF THE TERMS AND CONDITIONS  OR  BY  DIRECTING  THE
 CONSUMER  TO  A  WEBSITE  CONTAINING  A COMPLETE SAMPLE OF THE TERMS AND
 CONDITIONS OF THE THEFT PROTECTION PROGRAM WARRANTY.
   § 7956. REQUIRED DISCLOSURES. (A) THEFT PROTECTION PROGRAM  WARRANTIES
 OFFERED,  ISSUED,  MADE,  PROPOSED  TO  BE MADE, OR ADMINISTERED IN THIS
 STATE SHALL BE WRITTEN,  PRINTED,  OR  TYPED  IN  CLEAR,  UNDERSTANDABLE
 LANGUAGE THAT IS EASY TO READ, AND SHALL DISCLOSE THE FOLLOWING REQUIRE-
 MENTS, AS APPLICABLE:
   (1)  THE  NAME  AND  ADDRESS OF THE WARRANTOR, THE SELLER OF THE THEFT
 PROTECTION PROGRAM, AND THE WARRANTY HOLDER;
   (2) THE TOTAL PURCHASE PRICE OF THE THEFT PROTECTION PROGRAM  AND  THE
 TERMS  UNDER  WHICH IT IS TO BE PAID, HOWEVER, THE PURCHASE PRICE IS NOT
 REQUIRED TO BE PREPRINTED ON THE THEFT PROTECTION PROGRAM  WARRANTY  AND
 MAY BE NEGOTIATED WITH THE CONSUMER AT THE TIME OF SALE;
   (3) THE PROCEDURE FOR MAKING A CLAIM, INCLUDING A TELEPHONE NUMBER FOR
 THE WARRANTOR OR ADMINISTRATOR RESPONSIBLE FOR PROCESSING THE CLAIM;
   (4)  THE  PAYMENTS  OR  PERFORMANCE  TO BE PROVIDED UNDER THE WARRANTY
 INCLUDING PAYMENTS FOR INCIDENTAL COSTS, THE MANNER  OF  CALCULATION  OR
 DETERMINATION   OF   PAYMENTS   OR  PERFORMANCE,  AND  ANY  LIMITATIONS,
 EXCEPTIONS OR EXCLUSIONS. INCIDENTAL COSTS MAY BE REIMBURSED  UNDER  THE
 PROVISIONS  OF  THE  WARRANTY  IN EITHER A FIXED AMOUNT SPECIFIED IN THE

 S. 3580                             5
 
 WARRANTY OR SALES AGREEMENT OR BY THE USE OF A FORMULA ITEMIZING SPECIF-
 IC INCIDENTAL COSTS INCURRED BY THE WARRANTY HOLDER;
   (5) THE OBLIGATIONS AND DUTIES OF THE WARRANTY HOLDER SUCH AS THE DUTY
 TO  PROTECT AGAINST ANY FURTHER DAMAGE TO THE VEHICLE, THE OBLIGATION TO
 NOTIFY THE WARRANTOR IN ADVANCE OF ANY REPAIR, OR OTHER SIMILAR REQUIRE-
 MENTS, IF ANY;
   (6) ANY TERMS, RESTRICTIONS, OR CONDITIONS  GOVERNING  TRANSFERABILITY
 AND CANCELLATION OF THE WARRANTY, IF ANY;
   (7)  A DISCLOSURE THAT READS SUBSTANTIALLY AS FOLLOWS: "THIS AGREEMENT
 IS NOT INSURANCE."
   (B)  A  THEFT  PROTECTION  PROGRAM  WARRANTY  THAT  IS  INSURED  BY  A
 REIMBURSEMENT INSURANCE POLICY UNDER SECTION SEVEN THOUSAND NINE HUNDRED
 FIFTY-FOUR  OF THIS ARTICLE SHALL CONSPICUOUSLY STATE ALL OF THE FOLLOW-
 ING:
   (1) "THIS THEFT PROTECTION PROGRAM WARRANTY IS NOT  INSURANCE  AND  IS
 NOT SUBJECT TO THE INSURANCE LAWS OF THE STATE OF NEW YORK."
   (2)  THAT  THE  OBLIGATIONS  OF  THE  WARRANTOR  ARE  INSURED  UNDER A
 REIMBURSEMENT INSURANCE POLICY;
   (3) THAT IF A WARRANTOR FAILS TO PERFORM OR MAKE PAYMENT DUE UNDER THE
 TERMS OF THE WARRANTY  WITHIN  SIXTY  DAYS  AFTER  THE  WARRANTY  HOLDER
 REQUESTS  PERFORMANCE  OR PAYMENT PURSUANT TO THE TERMS OF THE WARRANTY,
 THE WARRANTY HOLDER MAY REQUEST PERFORMANCE OR PAYMENT DIRECTLY FROM THE
 WARRANTOR'S REIMBURSEMENT INSURANCE POLICY INSURER;
   (4) THE  NAME,  ADDRESS,  AND  TELEPHONE  NUMBER  OF  THE  WARRANTOR'S
 REIMBURSEMENT INSURANCE POLICY INSURER.
   (C) THEFT PROTECTION PROGRAM WARRANTIES NOT INSURED UNDER A REIMBURSE-
 MENT  INSURANCE  POLICY  PURSUANT TO SECTION SEVEN THOUSAND NINE HUNDRED
 FIFTY-FOUR OF THIS ARTICLE SHALL CONTAIN A  STATEMENT  IN  SUBSTANTIALLY
 THE FOLLOWING FORM: "THE OBLIGATIONS OF THE WARRANTOR UNDER THIS WARRAN-
 TY ARE BACKED BY THE FULL FAITH AND CREDIT OF THE WARRANTOR."
   (D) A WARRANTOR MAY ONLY CANCEL A THEFT PROTECTION PROGRAM WARRANTY IF
 THE WARRANTY HOLDER DOES ANY OF THE FOLLOWING:
   (1) FAILS TO PAY FOR THE THEFT PROTECTION PROGRAM;
   (2)  MAKES  A  MATERIAL  MISREPRESENTATION  TO THE SELLER OF THE THEFT
 PROTECTION PROGRAM OR TO THE WARRANTOR;
   (3) COMMITS FRAUD RELATED TO THE  PURCHASE  OF  THE  THEFT  PROTECTION
 PROGRAM,  REGISTRATION  OF  THE  THEFT PROTECTION PROGRAM WARRANTY, OR A
 CLAIM MADE UNDER THE THEFT PROTECTION PROGRAM WARRANTY;
   (4) SUBSTANTIALLY BREACHES THE  WARRANTY  HOLDER'S  DUTIES  UNDER  THE
 WARRANTY;
   (5) FAILS TO MAKE REQUIRED PAYMENTS ON THE VEHICLE SUCH THAT THE VEHI-
 CLE IS REPOSSESSED; OR
   (6) DAMAGES THE VEHICLE SUCH THAT THE VEHICLE IS DEEMED A TOTAL LOSS.
   §  7957.  REQUIRED  DISCLOSURES;  REIMBURSEMENT  INSURANCE  POLICY.  A
 REIMBURSEMENT INSURANCE POLICY THAT IS REQUIRED TO BE ISSUED UNDER  THIS
 ARTICLE SHALL CONTAIN:
   (A)  A  STATEMENT THAT IF A WARRANTOR FAILS TO PERFORM OR MAKE PAYMENT
 DUE UNDER THE TERMS OF THE  THEFT  PROTECTION  PROGRAM  WARRANTY  WITHIN
 SIXTY  DAYS  AFTER  THE  WARRANTY HOLDER REQUESTS PERFORMANCE OR PAYMENT
 PURSUANT TO THE TERMS OF THE  THEFT  PROTECTION  PROGRAM  WARRANTY,  THE
 WARRANTY  HOLDER  MAY  REQUEST  PERFORMANCE OR PAYMENT DIRECTLY FROM THE
 WARRANTOR'S REIMBURSEMENT INSURANCE POLICY INSURER.
   (B) A STATEMENT THAT IN THE EVENT OF CANCELLATION OF  THE  WARRANTOR'S
 REIMBURSEMENT INSURANCE POLICY, INSURANCE COVERAGE WILL CONTINUE FOR ALL
 ANCILLARY PRODUCT HOLDERS WHOSE THEFT PROTECTION PROGRAM WARRANTIES WERE

 S. 3580                             6
 
 ISSUED  BY THE WARRANTOR AND REPORTED TO THE INSURER FOR COVERAGE DURING
 THE TERM OF THE REIMBURSEMENT INSURANCE POLICY.
   §  7958.  THEFT  PROTECTION  PROGRAM WARRANTY NOT INSURANCE.  NOTWITH-
 STANDING SECTION THREE THOUSAND FOUR HUNDRED FORTY-SIX OF  THIS  CHAPTER
 AND  ANY OTHER PROVISION OF LAW, THE MARKETING, SALE, OFFERING FOR SALE,
 ISSUANCE,  MAKING,  PROPOSING  TO  MAKE,  AND  ADMINISTRATION  OF  THEFT
 PROTECTION  PROGRAMS  BY WARRANTORS AND RELATED THEFT PROTECTION PROGRAM
 SELLERS, ADMINISTRATORS, AND OTHER PERSONS  SHALL  BE  EXEMPT  FROM  ALL
 PROVISIONS OF THIS CHAPTER OTHER THAN THIS ARTICLE.
   § 7959. PROHIBITED ACTS. (A) A WARRANTOR SHALL NOT USE IN ITS NAME THE
 WORDS INSURANCE, CASUALTY, SURETY, MUTUAL OR ANY OTHER WORDS DESCRIPTIVE
 OF  THE  INSURANCE,  CASUALTY  OR SURETY BUSINESS; OR A NAME DECEPTIVELY
 SIMILAR TO THE NAME OR DESCRIPTION OF ANY  INSURANCE  OR  SURETY  CORPO-
 RATION  OR  TO  THE  NAME OF ANY OTHER WARRANTOR. THE WORD "GUARANTY" OR
 SIMILAR WORD MAY BE USED BY A WARRANTOR.  THIS SECTION SHALL  NOT  APPLY
 TO  A  COMPANY THAT WAS USING ANY OF THE PROHIBITED LANGUAGE IN ITS NAME
 PRIOR TO THE EFFECTIVE DATE OF THIS ARTICLE.  HOWEVER, A  COMPANY  USING
 THE  PROHIBITED  LANGUAGE  IN  ITS  NAME  SHALL  INCLUDE  IN  ITS  THEFT
 PROTECTION PROGRAM WARRANTIES A STATEMENT IN SUBSTANTIALLY THE FOLLOWING
 FORM:  "THIS AGREEMENT IS NOT AN INSURANCE CONTRACT."
   (B)  A  WARRANTOR  OR  ITS  REPRESENTATIVE  SHALL  NOT  IN  ITS  THEFT
 PROTECTION  PROGRAM WARRANTIES, WARRANTIES OR LITERATURE MAKE, PERMIT OR
 CAUSE TO BE MADE ANY FALSE OR MISLEADING STATEMENT, OR DELIBERATELY OMIT
 ANY MATERIAL STATEMENT THAT WOULD BE CONSIDERED MISLEADING IF OMITTED.
   (C) A PERSON, SUCH AS A BANK, SAVINGS AND  LOAN  ASSOCIATION,  LENDING
 INSTITUTION,  MANUFACTURER,  OR SELLER OF ANY PRODUCT, SHALL NOT REQUIRE
 THE PURCHASE OF A THEFT PROTECTION PROGRAM WARRANTY AS A CONDITION OF  A
 LOAN OR A CONDITION FOR THE SALE OF ANY MOTOR VEHICLE OR OTHER PROPERTY.
   (D) A WARRANTOR OR ITS REPRESENTATIVE SHALL NOT, DIRECTLY OR INDIRECT-
 LY, REPRESENT IN ANY MANNER, WHETHER BY WRITTEN SOLICITATION OR TELEMAR-
 KETING, A FALSE, DECEPTIVE OR MISLEADING STATEMENT WITH RESPECT TO:
   (1) SUCH WARRANTOR'S AFFILIATION WITH A MOTOR VEHICLE MANUFACTURER;
   (2) SUCH WARRANTOR'S POSSESSION OF INFORMATION REGARDING A MOTOR VEHI-
 CLE  OWNER'S  CURRENT  MOTOR  VEHICLE  MANUFACTURER'S ORIGINAL EQUIPMENT
 WARRANTY;
   (3) THE EXPIRATION OF A MOTOR VEHICLE OWNER'S  CURRENT  MOTOR  VEHICLE
 MANUFACTURER'S ORIGINAL EQUIPMENT WARRANTY; OR
   (4)  A REQUIREMENT THAT A MOTOR VEHICLE OWNER REGISTER FOR A NEW THEFT
 PROTECTION PROGRAM WARRANTY WITH A WARRANTOR IN ORDER TO MAINTAIN COVER-
 AGE UNDER THE MOTOR VEHICLE OWNER'S  CURRENT  THEFT  PROTECTION  PROGRAM
 WARRANTY OR MANUFACTURER'S ORIGINAL EQUIPMENT WARRANTY.
   § 7960. RECORD-KEEPING REQUIREMENTS. (A) BOOKS AND RECORDS:
   (1)  A  WARRANTOR  SHALL  KEEP  ACCURATE  ACCOUNTS, BOOKS, AND RECORDS
 CONCERNING TRANSACTIONS REGULATED UNDER THIS ARTICLE.
   (2) THE WARRANTOR'S ACCOUNTS, BOOKS, AND  RECORDS  SHALL  INCLUDE  THE
 FOLLOWING:
   (A)  COPIES  OF EACH TYPE OF THEFT PROTECTION PROGRAM WARRANTY SOLD OR
 ISSUED;
   (B) THE NAME AND ADDRESS OF  EACH  ANCILLARY  PRODUCT  HOLDER  TO  THE
 EXTENT  THAT  THE  NAME AND ADDRESS HAVE BEEN FURNISHED BY THE ANCILLARY
 PRODUCT HOLDER;
   (C) A LIST OF THE LOCATIONS WHERE THEFT PROTECTION PROGRAM  WARRANTIES
 ARE ISSUED, MARKETED, SOLD, OR OFFERED FOR SALE; AND
   (D)  WRITTEN  CLAIMS  FILES WHICH SHALL CONTAIN AT LEAST THE DATES AND
 DESCRIPTION OF CLAIMS RELATED TO THE THEFT  PROTECTION  PROGRAM  WARRAN-
 TIES.

 S. 3580                             7
 
   (3)  EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, THE WARRAN-
 TOR SHALL RETAIN ALL RECORDS REQUIRED TO BE MAINTAINED BY  THIS  SECTION
 FOR  AT  LEAST  ONE  YEAR  AFTER  THE  SPECIFIED  PERIOD OF COVERAGE HAS
 EXPIRED.
   (4)  THE  RECORDS  REQUIRED  UNDER  THIS  SECTION  MAY BE, BUT ARE NOT
 REQUIRED TO BE, MAINTAINED ON A COMPUTER DISK  OR  OTHER  RECORD-KEEPING
 TECHNOLOGY.  IF  THE RECORDS ARE MAINTAINED IN OTHER THAN HARD COPY, THE
 RECORDS SHALL BE CAPABLE OF DUPLICATION TO  LEGIBLE  HARD  COPY  AT  THE
 REQUEST OF THE SUPERINTENDENT.
   (B)  A  WARRANTOR  DISCONTINUING BUSINESS IN THIS STATE SHALL MAINTAIN
 ITS RECORDS UNTIL IT FURNISHES  THE  SUPERINTENDENT  SATISFACTORY  PROOF
 THAT  IT  HAS DISCHARGED ALL OBLIGATIONS TO ANCILLARY PRODUCT HOLDERS IN
 THIS STATE.
   § 7961. CANCELLATION OF REIMBURSEMENT INSURANCE POLICY. AS APPLICABLE,
 AN INSURER THAT ISSUED A REIMBURSEMENT INSURANCE POLICY  REQUIRED  UNDER
 THIS  ARTICLE  SHALL  NOT  TERMINATE THE POLICY UNTIL A NOTICE OF TERMI-
 NATION HAS BEEN MAILED OR DELIVERED TO THE  SUPERINTENDENT.  THE  TERMI-
 NATION OF A REIMBURSEMENT INSURANCE POLICY SHALL NOT REDUCE THE ISSUER'S
 RESPONSIBILITY FOR THEFT PROTECTION PROGRAM WARRANTIES ISSUED BY INSURED
 WARRANTORS PRIOR TO THE DATE OF THE TERMINATION.
   §  7962.  OBLIGATION  OF  REIMBURSEMENT INSURANCE POLICY INSURERS. (A)
 INSURERS ISSUING REIMBURSEMENT INSURANCE TO  WARRANTORS  ARE  DEEMED  TO
 HAVE  RECEIVED  THE  PREMIUMS  FOR  SUCH  INSURANCE  UPON THE PAYMENT OF
 WARRANTOR FEES BY CONSUMERS  FOR  THEFT  PROTECTION  PROGRAM  WARRANTIES
 ISSUED BY SUCH INSURED WARRANTORS.
   (B)  THIS  ARTICLE  SHALL NOT PREVENT OR LIMIT THE RIGHT OF AN INSURER
 WHICH ISSUED A REIMBURSEMENT INSURANCE POLICY TO SEEK INDEMNIFICATION OR
 SUBROGATION AGAINST A WARRANTOR IF THE INSURER PAYS OR IS  OBLIGATED  TO
 PAY  THE  ANCILLARY PRODUCT HOLDER SUMS THAT THE WARRANTOR WAS OBLIGATED
 TO PAY PURSUANT TO  THE  PROVISIONS  OF  THE  THEFT  PROTECTION  PROGRAM
 WARRANTY.
   §  7963.  ENFORCEMENT  PROVISIONS.  (A) THE SUPERINTENDENT MAY CONDUCT
 EXAMINATIONS OF WARRANTORS, ADMINISTRATORS, INSURERS OR OTHER PERSONS TO
 ENFORCE THE PROVISIONS OF THIS ARTICLE  AND  PROTECT  ANCILLARY  PRODUCT
 HOLDERS  IN THIS STATE.  UPON REQUEST OF THE SUPERINTENDENT, THE WARRAN-
 TOR SHALL MAKE AVAILABLE TO THE SUPERINTENDENT ALL ACCOUNTS, BOOKS,  AND
 RECORDS CONCERNING THEFT PROTECTION PROGRAM WARRANTIES SOLD OR ISSUED BY
 THE  WARRANTOR  WHICH  ARE  NECESSARY  TO  ENABLE  THE SUPERINTENDENT TO
 REASONABLY DETERMINE COMPLIANCE OR NONCOMPLIANCE WITH THIS ARTICLE.
   (B) THE SUPERINTENDENT MAY TAKE ACTION WHICH IS NECESSARY OR APPROPRI-
 ATE TO ENFORCE THE PROVISIONS OF THIS ARTICLE AND  THE  SUPERINTENDENT'S
 REGULATIONS AND ORDERS, AND TO PROTECT ANCILLARY PRODUCT HOLDERS IN THIS
 STATE.
   (1)  IF  A WARRANTOR HAS VIOLATED THIS ARTICLE OR THE SUPERINTENDENT'S
 REGULATIONS OR ORDERS, THE SUPERINTENDENT MAY ISSUE AN ORDER DIRECTED TO
 THAT WARRANTOR TO CEASE AND DESIST FROM COMMITTING  VIOLATIONS  OF  THIS
 ARTICLE  OR  THE  SUPERINTENDENT'S  REGULATIONS  OR ORDERS; MAY ISSUE AN
 ORDER PROHIBITING A WARRANTOR FROM ISSUING, SELLING OR OFFERING FOR SALE
 THEFT PROTECTION PROGRAM WARRANTIES IN VIOLATION OF THIS ARTICLE; OR MAY
 ISSUE AN ORDER IMPOSING A CIVIL PENALTY ON THAT WARRANTOR, OR ANY COMBI-
 NATION OF THE FOREGOING, AS APPLICABLE.
   (A) A PERSON AGGRIEVED BY AN ORDER ISSUED  UNDER  THIS  PARAGRAPH  MAY
 REQUEST  A  HEARING BEFORE THE SUPERINTENDENT. THE HEARING REQUEST SHALL
 BE FILED WITH THE SUPERINTENDENT WITHIN TWENTY  DAYS  OF  THE  DATE  THE
 SUPERINTENDENT'S ORDER IS EFFECTIVE.

 S. 3580                             8

   (B)  IF  A HEARING IS REQUESTED, AN ORDER ISSUED BY THE SUPERINTENDENT
 UNDER THIS SECTION SHALL BE SUSPENDED FROM THE ORIGINAL  EFFECTIVE  DATE
 OF  THE  ORDER UNTIL COMPLETION OF THE HEARING AND FINAL DECISION OF THE
 SUPERINTENDENT.
   (C)  AT THE HEARING, THE BURDEN SHALL BE ON THE SUPERINTENDENT TO SHOW
 WHY THE ORDER ISSUED  PURSUANT  TO  THIS  PARAGRAPH  IS  JUSTIFIED.  THE
 PROVISIONS OF THIS SECTION SHALL APPLY TO A HEARING REQUESTED UNDER THIS
 SECTION.
   (2)  THE  SUPERINTENDENT MAY BRING AN ACTION IN ANY COURT OF COMPETENT
 JURISDICTION FOR AN INJUNCTION OR OTHER  APPROPRIATE  RELIEF  TO  ENJOIN
 THREATENED  OR EXISTING VIOLATIONS OF THIS ARTICLE OR OF THE SUPERINTEN-
 DENT'S ORDERS OR REGULATIONS.  AN ACTION FILED UNDER THIS PARAGRAPH  MAY
 ALSO  SEEK  RESTITUTION ON BEHALF OF PERSONS AGGRIEVED BY A VIOLATION OF
 THIS ARTICLE OR ORDERS OR REGULATIONS OF THE SUPERINTENDENT.
   (3) A PERSON WHO IS FOUND TO HAVE VIOLATED THIS ARTICLE OR  ORDERS  OR
 REGULATION  OF  THE SUPERINTENDENT MAY BE ASSESSED A CIVIL PENALTY IN AN
 AMOUNT DETERMINED BY THE SUPERINTENDENT OF NOT MORE  THAN  FIVE  HUNDRED
 DOLLARS  PER  VIOLATION  AND  NO  MORE  THAN TEN THOUSAND DOLLARS IN THE
 AGGREGATE FOR ALL VIOLATIONS OF A SIMILAR NATURE. FOR PURPOSES  OF  THIS
 SECTION,  VIOLATIONS  SHALL  BE  OF  A  SIMILAR  NATURE IF THE VIOLATION
 CONSISTS OF THE SAME OR SIMILAR COURSE OF CONDUCT, ACTION, OR  PRACTICE,
 IRRESPECTIVE  OF THE NUMBER OF TIMES THE ACT, CONDUCT, OR PRACTICE WHICH
 IS DETERMINED TO BE A VIOLATION OF THIS ARTICLE OCCURRED.
   §  7964.  PREMIUM  TAXES.  (A)  WARRANTOR  FEES  COLLECTED  ON   THEFT
 PROTECTION PROGRAM SHALL NOT BE SUBJECT TO PREMIUM TAXES.
   (B)  PREMIUMS FOR REIMBURSEMENT INSURANCE POLICIES SHALL BE SUBJECT TO
 APPLICABLE PREMIUM TAXES.
   § 7965. SEVERABILITY. IF ANY PROVISION OF THIS ARTICLE, OR THE  APPLI-
 CATION  OF  THE  PROVISION  TO ANY PERSON OR CIRCUMSTANCE, SHALL BE HELD
 INVALID, THE REMAINDER OF THIS  ARTICLE,  AND  THE  APPLICATION  OF  THE
 PROVISION  TO PERSON OR CIRCUMSTANCES OTHER THAN THOSE AS TO WHICH IT IS
 HELD INVALID, SHALL NOT BE AFFECTED.
   § 7966. APPLICABILITY. THIS ARTICLE APPLIES TO  ALL  THEFT  PROTECTION
 PROGRAM WARRANTIES ISSUED, ON OR AFTER JANUARY FIRST, TWO THOUSAND TWEN-
 TY-TWO.  THE  FAILURE OF ANY PERSON TO COMPLY WITH THIS ARTICLE PRIOR TO
 JANUARY FIRST, TWO THOUSAND TWENTY-TWO, SHALL NOT BE ADMISSIBLE  IN  ANY
 COURT PROCEEDING, ADMINISTRATIVE PROCEEDING, ARBITRATION, OR ALTERNATIVE
 DISPUTE  RESOLUTION  PROCEEDING  AND  MAY NOT OTHERWISE BE USED TO PROVE
 THAT THE ACTION OF ANY PERSON OR THE AFFECTED THEFT  PROTECTION  PROGRAM
 WARRANTY  WAS UNLAWFUL OR OTHERWISE IMPROPER. THE ADOPTION OF THIS ARTI-
 CLE DOES NOT IMPLY THAT A THEFT PROTECTION PROGRAM WARRANTY  WAS  INSUR-
 ANCE  PRIOR  TO  JANUARY  FIRST,  TWO  THOUSAND  TWENTY-TWO. THE PENALTY
 PROVISIONS OF THIS ARTICLE DO NOT APPLY TO ANY VIOLATION OF THIS ARTICLE
 RELATING TO OR IN CONNECTION WITH THE SALE OR FAILURE TO DISCLOSE  IN  A
 RETAIL  INSTALLMENT THEFT PROTECTION PROGRAM WARRANTY OR LEASE, OR THEFT
 PROTECTION PROGRAM WARRANTY OR  AGREEMENT  THAT  PROVIDES  FOR  PAYMENTS
 UNDER  A  THEFT  PROTECTION PROGRAM WARRANTY AS LONG AS THE SALE OF SUCH
 PRODUCT, THEFT PROTECTION PROGRAM WARRANTY, OR AGREEMENT  WAS  OTHERWISE
 DISCLOSED  TO  THE  PURCHASER  IN WRITING AT THE TIME OF THE PURCHASE OR
 LEASE. IN THE EVENT OF A VIOLATION FOR WHICH THE PENALTY  PROVISIONS  OF
 THIS  ARTICLE  DO  NOT  APPLY,  THE COURT SHALL AWARD ACTUAL DAMAGES AND
 COSTS, INCLUDING REASONABLE ATTORNEY'S FEES.  NOTHING  IN  THIS  SECTION
 SHALL  BE CONSTRUED TO REQUIRE THE APPLICATION OF THE PENALTY PROVISIONS
 WHERE THIS SECTION IS NOT APPLICABLE.
   § 7967. EFFECT ON CURRENT BUSINESS. A  PERSON  ENGAGED  IN  THE  THEFT
 PROTECTION  PROGRAM  WARRANTY  BUSINESS, AS A WARRANTOR OR OTHERWISE, IN

 S. 3580                             9
 
 THIS STATE ON OR BEFORE THE EFFECTIVE DATE OF THIS ARTICLE,  WHO  REGIS-
 TERS  AS  A  WARRANTOR PURSUANT TO THIS ARTICLE WITHIN THIRTY DAYS AFTER
 THE SUPERINTENDENT MAKES THE REGISTRATION FORM AVAILABLE,  MAY  CONTINUE
 TO  ENGAGE  IN  BUSINESS AS A WARRANTOR IN THIS STATE UNTIL FINAL AGENCY
 ACTION IS TAKEN BY THE SUPERINTENDENT REGARDING THE REGISTRATION AND ALL
 RIGHTS TO ADMINISTRATIVE JUDICIAL REVIEW HAVE BEEN EXHAUSTED OR EXPIRED.
   § 2. This act shall take effect January 1, 2022.

Comments

Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.

Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Senate Bill S3580

Sponsored By

Archive: Last Bill Status - In Senate Committee Insurance Committee

2021-S3580 (ACTIVE) - Details

2021-S3580 (ACTIVE) - Summary

2021-S3580 (ACTIVE) - Sponsor Memo

2021-S3580 (ACTIVE) - Bill Text download pdf

Comments

Senate Bill S3580

Share this bill

Sponsored By

Neil D. Breslin

Archive: Last Bill Status - In Senate Committee Insurance Committee

2021-S3580 (ACTIVE) - Details

2021-S3580 (ACTIVE) - Summary

2021-S3580 (ACTIVE) - Sponsor Memo

2021-S3580 (ACTIVE) - Bill Text download pdf

Comments