§ 4247 - Definitions
§ 4247. Definitions
As used in this subchapter,
(1) "Commissioner" means the commissioner of the Vermont department of banking, insurance, securities, and health care administration.
(2) "Consumer" means a natural person who buys other than for purposes of resale any tangible personal property that is distributed in commerce and that is normally used for personal, family or household purposes, and not for commercial purposes.
(3) "Service contract holder" means a person who is the purchaser or holder of a service contract.
(4) "Manufacturer" means a person that manufactures, produces or markets goods and sells the goods under its own name or label; or manufactures or produces goods and the goods are sold under the trade name or label of another person.
(5) "Maintenance agreement" means a contract of limited duration that provides for scheduled maintenance only.
(6) "Mechanical breakdown insurance" means any policy, contract or agreement issued by an authorized insurer that provides for the repair, replacement, or maintenance of property or indemnification for repair, replacement, or maintenance, for the operational or structural failure of the property due to a defect in materials or workmanship or due to normal wear and tear.
(7) "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.
(8) "Service contract" means any contract or agreement to perform or indemnify for a specific duration the repair, replacement or maintenance of property for operational or structural failure due to a defect in materials, workmanship or normal wear and tear, with or without additional provisions for incidental payment of indemnity under limited circumstances, including towing, rental and emergency road service.
(9) "Service contract reimbursement policy" means a policy of insurance providing full reimbursement coverage for all obligations and liabilities under the terms of a service contract issued by the provider.
(10) "Warranty" means a warranty made solely by the manufacturer, importer or seller of property or services, without charge, that is not negotiated or separated from the sale of the product and is incidental to the sale of the product, and that guarantees indemnity for defective parts, mechanical or electrical breakdown, labor or other remedial measures, such as repair or replacement of the property or repetition of services. (Added 1997, No. 109 (Adj. Sess.), § 2, eff. Sept. 1, 1998.)