1. (1) A reimbursement insurer must deliver to the warrantor and the Director of the Department of Consumer and Business Services the written notice of cancellation for a reimbursement insurance policy as required by Section 6(2), Ch. 685, Oregon Laws 2007 not later than 30 days prior to the effective date of the cancellation.
2. (2) A warrantor must discontinue offering vehicle protection product warranties as of the date of cancellation of the reimbursement insurance until the warrantor obtains new reimbursement insurance.
3. (3) A warrantor must deliver a copy of the new reimbursement policy to the Director within 10 business days of the warrantor’s receipt of the new reimbursement policy.

Statutory/Other Authority

ORS 731.244; 2007 OL Ch. 685 & Sec. 11

Statutes/Other Implemented

2007 OL Ch. 685, Sec. 5 & 6

History

ID 4-2008, f. & cert. ef. 4-7-08