Section 8-37A-3 - Motor vehicle value protection agreements(a) A motor vehicle value protection agreement may be offered, sold, or provided to a borrower or lessor under this chapter.(b) A provider may use an administrator or other designee to be responsible for all or part of the administration of motor vehicle value protection agreements in compliance with this chapter. A provider may act as an administrator or retain the services of a third-party administrator.(c) A motor vehicle value protection agreement shall not be sold unless the contract holder is provided a copy of the agreement.Ala. Code § 8-37A-3 (1975)
Added by Act 2022-179,§ 2, eff. 1/1/2023.