Section 385.421

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 385

Effective - 01 Jan 2009, see footnote   

  385.421.  Warranty to contain cancellation terms and conditions — written notice of cancellation required. — 1.  No vehicle protection product may be sold or offered for sale in this state unless the vehicle protection product warranty states the terms and conditions governing the cancellation of the sale and warranty, if any.

  2.  The warrantor may only cancel the warranty if the warranty holder does any of the following:

  (1)  Fails to pay for the vehicle protection product;

  (2)  Makes a material misrepresentation to the seller or warrantor;

  (3)  Commits fraud; or

  (4)  Substantially breaches the warranty holder's duties under the warranty.

  3.  A warrantor cancelling a warranty shall mail written notice of cancellation to the warranty holder at the last known address of the warranty holder in the warrantor's records at least thirty days prior to the effective date of the cancellation.  The notice shall state the effective date of the cancellation and the reason for the cancellation.

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(L. 2008 S.B. 930 & 947)

Effective 1-01-09