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Committee considers vehicle value protection agreements; adopts disclosure amendment and suspends action for further drafting
Summary
Lawmakers debated House Bill 504 to legalize and regulate optional vehicle value protection agreements. The committee adopted an amendment requiring any dealer-return condition to be separately signed and then suspended action to allow further drafting of consumer-protection language.
The Regulated Industries Committee heard testimony on House Bill 504, a measure to authorize and regulate vehicle value protection agreements for Georgia consumers. Presenters described the products as optional consumer protections that can complement or differ from traditional GAP waivers.
An unnamed bill presenter summarized the proposal as providing optional vehicle-value protection products with required consumer disclosures, a 30-day cancellation window and financial backing to ensure claims are paid. "We'd be available to Georgia consumers," the presenter said while…
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