31A-6a-105. Prohibited acts.
(1) Except as provided in Subsection 31A-6a-104(2), a service contract provider may not
use in its name, a contract, or literature:
(a) any of the following words:
(i) "insurance";
(ii) "casualty";
(iii) "surety";
(iv) "mutual"; or
(v) another word descriptive of the insurance, casualty, or surety business; or
(b) a name deceptively similar to the name or description of:
(i) an insurance or surety corporation; or
(ii) another service contract provider.
(2) A service contract provider or the service contract provider's representative may not:
(a) make, permit, or cause to be made a false or misleading statement in connection with
the sale, offer to sell, or advertisement of a service contract; or
(b) deliberately omit a material statement that would be considered misleading if
omitted, in connection with the sale, offer to sell, or advertisement of a service contract.
(3) A bank, savings and loan association, insurance company, or other lending institution
may not require the purchase of a service contract as a condition of a loan.
(4) Except for a bank, savings and loan association, industrial bank, or credit union, a
service contract provider, unless licensed by the department, may not sell, or be the obligated
party for:
(a) a guaranteed asset protection waiver;
(b) a debt cancellation agreement; or
(c) a debt suspension agreement.
Amended by Chapter 345, 2008 General Session
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Last revised: Thursday, May 28, 2009