As used in this part 16, unless the context otherwise
requires:
(1)Administrator means the person who is responsible for the
administration of any service contracts issued by a provider or who is responsible
for any submission required by this part 16 on behalf of a provider.
(2)Commissioner means the commissioner of insurance.
(3)Consumer means a natural person who buys, other than for purposes of
resale, any tangible personal property that is distributed in commerce and that is
normally used for personal, family, or household purposes and not for business or
research purposes.
(4)Consumer product means any tangible personal property that is
distributed in commerce and is normally used for personal, family, or household
purposes, including any tangible personal property in
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As used in this part 16, unless the context otherwise
requires:
(1) Administrator means the person who is responsible for the
administration of any service contracts issued by a provider or who is responsible
for any submission required by this part 16 on behalf of a provider.
(2) Commissioner means the commissioner of insurance.
(3) Consumer means a natural person who buys, other than for purposes of
resale, any tangible personal property that is distributed in commerce and that is
normally used for personal, family, or household purposes and not for business or
research purposes.
(4) Consumer product means any tangible personal property that is
distributed in commerce and is normally used for personal, family, or household
purposes, including any tangible personal property intended to be attached to or
installed in any real property without regard to whether it is so attached or
installed.
(5) Maintenance agreement means a contract of limited duration that
provides for scheduled maintenance only and does not include repair or
replacement.
(6) Nonoriginal manufacturer's parts means replacement parts not made
for or by the original manufacturer of the property.
(7) Person has the same meaning as set forth in section 2-4-401, C.R.S.
(8) Premium means the consideration paid to an insurer for a
reimbursement insurance policy.
(9) Provider means a person who is contractually obligated to the service
contract holder under the terms of the service contract.
(10) Provider fee means the consideration paid for a service contract.
(11) Reimbursement insurance company means an insurer that issues any
reimbursement insurance policy.
(12) Reimbursement insurance policy means a policy of insurance issued to
a provider to either provide reimbursement to the provider under the terms of the
insured service contracts issued or sold by the provider or, in the event of the
provider's nonperformance, to pay on behalf of the provider all covered contractual
obligations incurred by the provider under the terms of the insured service
contracts issued or sold by the provider.
(13) Related service contract seller means any employee of the provider
who is responsible for marketing, selling, or offering to sell service contracts on the
provider's behalf.
(14) Service contract means a contract or agreement of a specific duration,
for a separately stated consideration, to perform the repair, replacement, or
maintenance of a consumer product or indemnify the consumer for the repair,
replacement, or maintenance of a consumer product for the operational or
structural failure of the consumer product due to a defect in materials,
workmanship, accidental damage from handling, or normal wear and tear, with or
without additional provisions for incidental payment of indemnity under limited
circumstances. Service contracts may provide for the repair, replacement, or
maintenance of a consumer product for damage resulting from power surges or
interruption. Service contracts are not insurance in this state or otherwise
regulated under this title.
(15) Service contract holder or contract holder means a person who is the
purchaser or holder of a service contract.
(16) Warranty means a warranty that is made solely by the manufacturer,
importer, or seller of tangible personal property or services without consideration,
that is not negotiated or separated from the sale of the property and is incidental to
the sale of the product, and that guarantees either:
(a) Indemnity for defective parts or for damage resulting from a mechanical
or electrical breakdown, including labor; or
(b) Other remedial measures, such as repair or replacement of the property
or repetition of services.