Oklahoma § 36-6752 - Definitions

§ 36-6752. Definitions

As used in the Oklahoma Home Service Contract Act:

1. “Administrator” means the person who is responsible for the

administration of home service contracts or the home service

contracts plan, who may promote the contract under their own private

label or brand as long as the provider is clearly identified on the

contract, or who is responsible for any submission required by the

Oklahoma Home Service Contract Act;

2. “Commissioner” means the Insurance Commissioner;

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;

Oklahoma Statutes - Title 36. Insurance

4. “Maintenance agreement” means a contract of limited duration

that provides for scheduled maintenance only and does not include

repair or replacement;

5. “Person” means an individual, partnership, corporation,

incorporated or unincorporated association, joint stock company,

reciprocal, syndicate or any similar entity or combination of

entities acting in concert;

6. “Provider” means the person who is the contractually named

obligor to the home service contract holder under the terms of the

service contract;

7. “Provider fee” means the consideration paid for a home

service contract;

8. “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 home 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 home service

contracts issued or sold by the provider;

9. “Home service contract” or “home warranty” means a contract

or agreement for a separately stated consideration for a specific

duration to perform the service, repair, replacement or maintenance

of property or indemnification for service, repair, replacement or

maintenance, for the operational or structural failure of any

residential property due to a defect in materials, workmanship,

inherent defect or normal wear and tear, with or without additional

provisions for incidental payment or indemnity under limited

circumstances. Home service contracts may provide for the service,

repair, replacement, or maintenance of property for damage resulting

from power surges or interruption and accidental damage from

handling and may provide for leak or repair coverage to house

roofing systems. Home service contracts and home warranties are not

insurance in this state or otherwise regulated under the Insurance

Code;

10. “Service contract holder” or “contract holder” means a

person who is the purchaser or holder of a home service contract;

and

11. “Warranty” means a warranty made solely by the

manufacturer, importer or seller of property or services including

builders on new home construction, without consideration, that is

not negotiated or separated from the sale of the product and is

incidental to the sale of the product, that guarantees indemnity for

defective parts, mechanical or electrical breakdown, labor or other

remedial measures, such as repair or replacement of the property or

repetition of services.

Added by Laws 2011, c. 224, § 3, eff. Nov. 1, 2011. Amended by Laws

2021, c. 137, § 2, eff. Nov. 1, 2021.

Oklahoma Statutes - Title 36. Insurance