VEHICLE PROTECTION PRODUCT ACT (EXCERPT) Act 263 of 2005
257.1257 Accounts, books, and records.
Sec. 17.
(1) A vehicle protection product warrantor shall keep accurate accounts, books, and records concerning transactions regulated under this act.
(2) A vehicle protection product warrantor’s accounts, books, and records shall include all of the following:
(a) Copies of all vehicle protection product warranties.
(b) The name and address of each warranty holder.
(c) The dates, amounts, and descriptions of all receipts, claims, and expenditures.
(3) A vehicle protection product warrantor shall retain all required accounts, books, and records pertaining to each warranty holder for at least 2 years after the specified period of coverage has expired. A warrantor discontinuing business in this state shall maintain its records until it furnishes the department satisfactory proof that it has discharged all obligations to warranty holders in this state.
(4) A vehicle protection product warrantor shall make its accounts, books, and records concerning transactions regulated under this act available to the department for the purpose of examination.
VEHICLE PROTECTION PRODUCT ACT (EXCERPT) Act 263 of 2005
257.1257 Accounts, books, and records.
Sec. 17.
(1) A vehicle protection product warrantor shall keep accurate accounts, books, and records concerning transactions regulated under this act.
(2) A vehicle protection product warrantor’s accounts, books, and records shall include all of the following:
(a) Copies of all vehicle protection product warranties.
(b) The name and address of each warranty holder.
(c) The dates, amounts, and descriptions of all receipts, claims, and expenditures.
(3) A vehicle protection product warrantor shall retain all required accounts, books, and records pertaining to each warranty holder for at least 2 years after the specified period of coverage has expired. A warrantor discontinuing business in this state shall maintain its records until it furnishes the department satisfactory proof that it has discharged all obligations to warranty holders in this state.
(4) A vehicle protection product warrantor shall make its accounts, books, and records concerning transactions regulated under this act available to the department for the purpose of examination.
VEHICLE PROTECTION PRODUCT ACT (EXCERPT) Act 263 of 2005
257.1257 Accounts, books, and records.
Sec. 17.
(1) A vehicle protection product warrantor shall keep accurate accounts, books, and records concerning transactions regulated under this act.
(2) A vehicle protection product warrantor’s accounts, books, and records shall include all of the following:
(a) Copies of all vehicle protection product warranties.
(b) The name and address of each warranty holder.
(c) The dates, amounts, and descriptions of all receipts, claims, and expenditures.
(3) A vehicle protection product warrantor shall retain all required accounts, books, and records pertaining to each warranty holder for at least 2 years after the specified period of coverage has expired. A warrantor discontinuing business in this state shall maintain its records until it furnishes the department satisfactory proof that it has discharged all obligations to warranty holders in this state.
(4) A vehicle protection product warrantor shall make its accounts, books, and records concerning transactions regulated under this act available to the department for the purpose of examination.
