Regulating service contracts and protection product guarantees.

Senate Bill 5108 aims to regulate service contracts and protection product guarantees, affecting consumers who purchase these agreements for various personal property. The bill updates and expands definitions for terms such as "administrator," "consumer," and "protection product guarantee." It broadens the scope of what constitutes a "service contract" to include specific services like tire and wheel repair from road hazards, paintless dent removal, windshield repair, and the replacement of motor vehicle keys or key fobs. Additionally, it defines "protection product guarantees" as agreements to repair or replace another product or cover incidental costs if a protective product fails to perform as specified.