VEH CD-SERVICE CONTRACTS
Synopsis of Bill as introduced:
Amends the Illinois Vehicle Code. Deletes a provision requiring
dealers that sell service contracts or extended warranties, other than
those of the manufacturer, to have adequate reserves or insurance to
protect purchasing customers. Deletes a provision requiring the
Secretary of State to adopt rules for implementing the requirement.
Provides that dealers that sell these contracts or extended warranties
must register with the Illinois Department of Insurance in accordance
with the Service Contract Act. Effective immediately.
HOUSE AMENDMENT NO. 1.
Deletes everything. Reinserts the amendatory provisions of the
original bill with changes. Deletes language requiring dealers that
sell in-house or self-insured extended service contracts to register
with the Department of Insurance.
Last action on Bill: SESSION SINE DIE
Last action date: JAN-07-2003
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 1 SENATE - 0
END OF INQUIRY
Full Text Bill Status