SB65
Revise product contracts, vehicle agreements, motor vehicle laws
Summary
The bill amends various sections of the Ohio Revised Code to modify laws governing ancillary product protection contracts, vehicle value protection agreements, and regulations related to replica and rental motor vehicles. It establishes definitions and requirements for excess wear and use waivers, debt cancellation products, and the registration of replica motor vehicles, while also detailing the obligations of providers and contract holders. The bill includes provisions for the cancellation of agreements and the responsibilities of the registrar of motor vehicles.
Rationale
The bill introduces regulations that may increase government oversight in vehicle contracts and protections, which conflicts with the LP's emphasis on minimal government intervention in economic matters. However, it does provide some consumer protections that align with the LPO's focus on individual rights and market freedom, leading to a mixed alignment score for both parties.
Risks and Concerns
- Increased government regulation may stifle free market competition.
- Potential for overreach in consumer protection laws.
- Complexity in compliance may burden small businesses.