An Oklahoma bill related to service warranties has passed the state’s Senate and is now under review in the House.
The bill, SB 1142, relates to “service warranties; amending [the sections of the law] which relate to definitions, audited financial statements, duration of suspension, annual statement filing and examinations of service warranty associations; modifying definitions; requiring certain financial statements to be audited and submitted to Insurance Commissioner under certain circumstances; updating statutory references; and providing an effective date.”
“Motor vehicle ancillary service” includes “the repair of chips or cracks in or the replacement of motor vehicle windshields as a result of damage caused by road hazards,” according to the bill.
The bill was introduced to the Oklahoma Senate on February 5. It passed the Senate in an amended format on March 14. It now is under the review of the House Insurance Committee, which has proposed further amendments as well.
Click here for the current full text of the bill.