OR HB2845 | 2015 | Regular Session

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on February 2 2015 - 25% progression
Action: 2015-02-05 - Referred to Consumer Protection and Government Effectiveness.
Pending: House Consumer Protection and Government Effectiveness Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Establishes conditions under which person may sell guaranteed asset protection waiver in connection with sale or lease of motor vehicle. Specifies conditions under which purchaser may cancel or creditor may terminate guaranteed asset protection waiver. Provides that guaranteed asset protection waiver is not insurance and is not subject to provisions of Insurance Code. Provides that person that sells guaranteed asset protection waiver may insure waiver for losses and expenses incurred in performing obligations under terms of guaranteed asset protection waiver. Specifies requirements for insurance. Provides that violation of provisions of Act is unlawful practice that is subject to enforcement under Unlawful Trade Practices Act.

Tracking Information

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Title

Relating to guaranteed asset protection waivers.

Sponsors


History

DateChamberAction
2015-02-05HouseReferred to Consumer Protection and Government Effectiveness.
2015-02-02HouseFirst reading. Referred to Speaker's desk.

Oregon State Sources


Bill Comments

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