<?xml version='1.0' encoding='utf-8'?>
<section article="gcl" article_name="Commercial Law" number="14-4A-04" title_number="14" title_name="Miscellaneous Consumer Protection Provisions" subtitle_number="4A" subtitle_name="Vehicle Protection Products Act">
  <level label="a">
    <text>A warrantor of a vehicle protection product that is sold or offered for sale in the State shall register with the Division on the form that the Division  provides.</text>
  </level>
  <level label="b">
    <text>The registration form shall include:</text>
    <level label="1">
      <text>The name, address, and telephone number of the warrantor, including any name under which the warrantor does business;</text>
    </level>
    <level label="2">
      <text>The name, address, and telephone number of the warrantor’s administrator, if any;</text>
    </level>
    <level label="3">
      <text>The name and address of the warrantor’s registered agent, if any;</text>
    </level>
    <level label="4">
      <text>The name of at least one officer of the warrantor who is directly responsible for the warrantor’s vehicle protection product business;</text>
    </level>
    <level label="5">
      <level label="i">
        <text>If the warrantor elects to carry warranty reimbursement insurance in accordance with § 14–4A–07(a)(1) of this subtitle, a copy of the warrantor’s warranty reimbursement insurance policy; or</text>
      </level>
      <level label="ii">
        <text>If the warrantor elects to meet its financial obligations in accordance with § 14–4A–07(a)(2) of this subtitle, one of the following:</text>
        <level label="1">
          <text>A copy of the most recent form 10–K or form 20–F filed by the warrantor or the warrantor’s parent company with the United States Securities and Exchange Commission; or</text>
        </level>
        <level label="2">
          <text>If the warrantor or the warrantor’s parent company does not file with the United States Securities and Exchange Commission, a copy of the warrantor’s or the warrantor’s parent company’s financial statement that shows a net worth or stockholders’ equity of not less than $50,000,000; and</text>
        </level>
      </level>
    </level>
    <level label="6">
      <text>A copy of each warranty that the warrantor proposes to use in the State.</text>
    </level>
  </level>
  <level label="c">
    <level label="1">
      <text>A warrantor that registers under subsection (a) of this section shall pay a registration fee to the Division at the time of registration.</text>
    </level>
    <level label="2">
      <text>On January 1 of each year following a warrantor’s initial registration, the warrantor shall pay a renewal fee to the Division.</text>
    </level>
    <level label="3">
      <text>The registration fee and the renewal fee required under this subsection shall be set by the Division in an amount not exceeding $500 for each fee.</text>
    </level>
  </level>
</section>
