For the purposes of this chapter:
1. "Commissioner" means the commissioner of insurance as provided in section 505.1 or the deputy administrator appointed under section 502.601.
2. "Mechanical breakdown insurance" means a policy, contract, or agreement that undertakes to perform or provide repair or replacement service, or indemnification for that service, for the operational or structural failure of a motor vehicle due to a defect in materials or skill of work or normal wear and tear, and that is issued by an insurance company authorized to do business in this state.
3. "Motor vehicle" means any self-propelled vehicle subject to registration under chapter 321.
4. "Motor vehicle service contract" or "service contract" means a contract or agreement given for consideration over and above the lease or purchase price of a new or used motor vehicle having a gross vehicle weight rating of less than sixteen thousand pounds that undertakes to perform or provide repair or replacement service, or indemnification for that service, for the operational or structural failure of a motor vehicle due to a defect in materials or skill of work or normal wear and tear, but does not include mechanical breakdown insurance or maintenance agreements providing scheduled repair and maintenance services for leased vehicles.
5. "Motor vehicle service contract provider" or "provider" means a person who issues, makes, provides, sells, or offers to sell a motor vehicle service contract.
6. "Motor vehicle service contract reimbursement insurance policy" or "reimbursement insurance policy" means a policy of insurance providing coverage for all obligations and liabilities incurred by a motor vehicle service contract provider under the terms of motor vehicle service contracts issued by the provider.
7. "Record" means information stored or preserved in any medium, including in an electronic or paper format. A record includes but is not limited to documents, books, publications, accounts, correspondence, memoranda, agreements, computer files, film, microfilm, photographs, and audio or visual tapes.
8. "Service contract holder" means a person who purchases a motor vehicle service contract.
85 Acts, ch 45, § 1
CS85, §321I.1
90 Acts, ch 1145, § 1; 92 Acts, ch 1163, § 77; 2000 Acts, ch 1147, §1, 2, 15
C2001, §516E.1
Referred to in § 523B.1, 523C.1
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