§ 66-371. Home appliance service agreement companies.
§ 66‑371. Homeappliance service agreement companies.
(a) This sectionapplies to all home appliance service agreement companies soliciting businessin this State, but it does not apply to performance guarantees or warrantiesmade by manufacturers in connection with the sale of new home appliances. Thissection does not apply to any home appliance dealer licensed to do business inthis State (i) whose primary business is the retail sale and service of homeappliances; (ii) who makes and administers its own service agreements withoutassociation with any other entity; and (iii) whose service agreements coverprimarily appliances sold by the dealer to its retail customers, provided thatthe dealer complies with G.S. 66‑372 and G.S. 66‑373. This sectiondoes not apply to any warranty made by a builder or seller of real propertyrelating to home appliances that are sold along with real property. Thissection does not apply to any issuer of credit cards or charge cards thatmarkets home appliance service agreements as an ancillary part of its business;provided, however, that such issuer maintains insurance in accordance with G.S.66‑373.
(b) The followingdefinitions apply in this section:
(1) "Homeappliance" means a clothes washing machine or dryer; kitchen appliance;vacuum cleaner; sewing machine; home audio or video electronic equipment; homeelectronic data processing equipment; home exercise and fitness equipment; homehealth care equipment; power tools; heater or air conditioner, other than apermanently installed unit using internal ductwork; or other personal consumergoods.
(2) "Home applianceservice agreement" means any contract or agreement indemnifying the homeappliance service agreement holder against loss caused by failure, arising outof the ownership, operation, or use of a home appliance, of a mechanical orother component part of the home appliance that is listed in the agreement.
(3) "Home applianceservice agreement company" means any person that issues home applianceservice agreements and that is not a licensed insurer.
(c) through (g)Repealed by Session Laws 1993 (Reg. Sess., 1994), c. 730, s. 3. (1991 (Reg. Sess., 1992), c.1014, s. 1; 1993, c. 504, ss. 49, 52; c. 539, s. 443; 1994, Ex. Sess., c. 24,s. 14(c); 1993 (Reg. Sess., 1994), c. 730, ss. 3, 4, 6; 2003‑290, s.1(b); 2007‑95, ss. 3, 10.)