Kristi W. Richard

Jun 11, 2024 | mondaq.com | Kelly Lipinski |Julia Lopez |Julia López |Kristi W. Richard

While it is not novel to see administrator registration requirements for vehicle service contracts or other vehicle protection products, Oklahoma recently enacted SB 541 which now requires the registration of debt waiver program administrators. Unlike service warranties, which may be purchased regardless of whether the vehicle is bought for cash or financed and are largely administered by third-party administrators, debt waiver programs are linked to the financing of the vehicle.

Jun 6, 2024 | jdsupra.com | Kelly Lipinski |Julia Lopez |Julia López |Kristi W. Richard

While it is not novel to see administrator registration requirements for vehicle service contracts or other vehicle protection products, Oklahoma recently enacted SB 541 which now requires the registration of debt waiver program administrators. Unlike service warranties, which may be purchased regardless of whether the vehicle is bought for cash or financed and are largely administered by third-party administrators, debt waiver programs are linked to the financing of the vehicle.

May 29, 2024 | mondaq.com | Kelly Lipinski |Tiyanna D. Lords |Kristi W. Richard

On May 6, 2024, Florida enacted SB 902, clearing the way for dealers to sell excess wear and use waivers on leases and vehicle value protection agreements. The bill, which will take effect on October 1, 2024, makes Florida one of the early state adopters of substantive requirements that allow for stand-alone vehicle value protection products, which may incentivize customers to return for their future vehicle needs.

May 28, 2024 | jdsupra.com | Kelly Lipinski |Tiyanna D. Lords |Kristi W. Richard

On May 6, 2024, Florida enacted SB 902, clearing the way for dealers to sell excess wear and use waivers on leases and vehicle value protection agreements. The bill, which will take effect on October 1, 2024, makes Florida one of the early state adopters of substantive requirements that allow for stand-alone vehicle value protection products, which may incentivize customers to return for their future vehicle needs.