§ 14-401. Definitions
West's Annotated Code of MarylandCommercial LawEffective: October 1, 2015
Effective: October 1, 2015
MD Code, Commercial Law, § 14-401
§ 14-401. Definitions
(e) “Mechanical breakdown insurance” means a policy, contract, or agreement issued by an authorized insurer that provides for the repair, replacement, or maintenance of property or indemnification for repair, replacement, or services, for the operational or structural failure of a product due to a defect in the materials or workmanship or due to normal wear and tear.
(k)(1) “Service contract” means a contract or agreement for a separately stated consideration for a specific duration to perform the repair, replacement, or maintenance of a product, or to indemnify for the repair, replacement, or maintenance, because of an operational or structural failure due to a defect in materials, workmanship, or normal wear and tear, with or without additional provisions for incidental payment of indemnity under limited circumstances.
Credits
Added by Acts 1975, c. 49, § 3, eff. July 1, 1975. Amended by Acts 1976, c. 388; Acts 2002, c. 472, § 1, eff. Oct. 1, 2002; Acts 2010, c. 611, § 2, eff. June 1, 2010; Acts 2015, c. 444, § 1, eff. Oct. 1, 2015.
Formerly Art. 83, § 169.
MD Code, Commercial Law, § 14-401, MD COML § 14-401
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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