2001 Regular Session

SENATE BILL 698

File Code: Business Regulation and Occupations
Sponsored By:
Senator Astle
Entitled:
Service Contracts

Synopsis:

Requiring providers of service contracts in the State to insure all service contracts under a reimbursement insurance policy, maintain a funded reserve account, and provide a financial security deposit on request to the Secretary of Labor, Licensing, and Regulation, or maintain a net worth of $100 million and provide specified security filings or audited financial statements on request to the Secretary; requiring each service contract sold or offered for sale in the State to contain specified provisions; etc.

History by Legislative Date

Senate Action
2/2
First Reading Finance
2/6
Hearing 3/6 at 1:00 p.m.
2/13
Hearing cancelled
Hearing 2/22 at 1:00 p.m.
2/15
Hearing cancelled
Hearing 3/6 at 1:00 p.m.
3/23
Unfavorable Report by Finance
House Action
No Action
Bill indexed under the following Subjects:
ATTORNEY GENERAL
COMMERCE AND BUSINESS -see also- DEALERS; TRADERS; etc
CONSUMER PROTECTION -see also- UNFAIR TRADE PRACTICES
CONTRACTS -see also- LAND INSTALLMENT CONTRACTS; PROCUREMENT
EQUIPMENT -see also- MOTOR VEHICLE EQUIPMENT
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
LABOR, LICENSING, AND REGULATION, DEPARTMENT OF
LICENSES -see also- ALCOHOLIC BEV LIC; DRIVERS' LICENSES
RECORDS -see also- LAND RECORDS; VITAL RECORDS
SECURITY DEPOSITS
WARRANTIES
Bill affects the following Statutes:
Business Regulation
( 20-101 , 20-102 , 20-103 , 20-104 , 20-105 , 20-106 , 20-107 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered