New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 2 - CONSUMER PROTECTION
Part 11 - AUTOMATIC RENEWAL OF SERVICE CONTRACTS
Section 12.2.11.7 - DEFINITIONS
Universal Citation: 12 NM Admin Code 12.2.11.7
Current through Register Vol. 35, No. 18, September 24, 2024
A. "Automatic renewal provision" means a provision under which a service contract is renewed for a specified period if:
(1) the renewal
causes the service contract to continue in effect more than two months after
the end of the term of the original contract; and
(2) the renewal is effective unless the
consumer gives notice to the seller of the consumer's intention to terminate
the service contract.
B. "Seller" means a person providing service, maintenance, or repair under a service contract.
C. "Service contract" means any contract for service, maintenance or repair.
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