20-1095.07. Notification to director of intent to sell contract; sale of unapproved contract; violation; classification
A. Any licensed motor vehicle dealer, acting through its regularly employed sales personnel, may sell any motor vehicle service contract program approved pursuant to section 20-1095.06.
B. Prior to commencing the sale of any approved service contract program, the licensed motor vehicle dealer shall, by certified mail, inform the director of the intent to sell the identified program. No fee is required for such notification.
C. The director shall maintain a file of all approved motor vehicle service contract programs and a list of the motor vehicle dealers selling a specific program.
D. A person who sells an unapproved motor vehicle service contract program is guilty of a class 2 misdemeanor.
E. A motor vehicle service contract is not invalid solely by reason of not being approved as required by this article.
F. The director may adopt rules and regulations prescribing the form of application for approval of a motor vehicle service contract program, the form of surety bond, the criteria for the policy of mechanical reimbursement insurance, refund of the unearned portion of the contract price and to provide procedures for hearings in connection with the disapproval of a motor vehicle service contract program.
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