§ 4-114-106. Required disclosure — Service contracts
(a) A service contract issued, sold, or offered for sale in this state shall: (1) Be written in clear, understandable language that is easy to read; and (2) Conspicuously disclose the applicable requirements of this section. (b) (1) A service contract insured under a reimbursement insurance policy under § 4-114-104(d)(1) shall contain the name and […]
§ 4-114-107. Prohibited acts
(a) (1) A provider shall not use a name: (A) With the words “insurance”, “casualty”, “surety”, “mutual”, or any other words descriptive of the insurance, casualty, or surety business; or (B) Deceptively similar to the name or description of any insurance or surety corporation or any other provider. (2) (A) This subsection shall not apply […]
§ 4-114-108. Recordkeeping requirements
(a) (1) A provider shall keep accurate accounts, books, and records concerning transactions regulated under this chapter. (2) A provider’s accounts, books, and records shall include: (A) A copy of each type of service contract issued; (B) The name and address of each service contract holder to the extent that the name and address have […]
§ 4-114-109. Cancellation of reimbursement insurance policy
(a) An insurer that issued a reimbursement insurance policy shall not terminate the policy until at least sixty (60) days’ notice of termination has been mailed or delivered to the Insurance Commissioner and in accordance with any other applicable law. (b) The termination of a reimbursement insurance policy shall not reduce the insurer’s responsibility for […]
§ 4-114-110. Obligation of reimbursement insurance policy insurers
(a) (1) A provider is considered to be the agent of the insurer that issued a reimbursement insurance policy for the purpose of obligating an insurer for the acts of its agents, including the collection of moneys not forwarded. (2) If a provider is acting as an administrator and enlists other providers, the provider acting […]
§ 4-114-111. Enforcement provisions
(a) The Insurance Commissioner may conduct investigations or examinations of providers, administrators, insurers, or other persons to enforce the provisions of this chapter and protect service contract holders in this state. (b) (1) The commissioner may take any action that is necessary or appropriate to enforce the provisions of this chapter and the commissioner’s rules […]
§ 4-114-112. Rules
The Insurance Commissioner may promulgate rules necessary to effectuate this chapter.
§ 4-115-101. Credit card processing service — Required disclosures — Prohibitions
(a) (1) Any person or entity that offers a credit card processing service in this state shall disclose the following information on any contract or agreement to render a credit card processing service: (A) The effective date of the contract; (B) The term of the contract; (C) The amount of any monthly minimum fee or […]
§ 4-115-102. Penalties and enforcement
(a) A violation of the provisions of this chapter by a person or entity providing credit card processing service shall constitute an unfair and deceptive act or practice, as defined by § 4-88-101 et seq. (b) All remedies, penalties, and authority granted to the Attorney General under § 4-88-101 et seq. shall be available to […]
§ 4-115-103. Applicability and exclusions
(a) Nothing contained in this chapter shall: (1) Affect the jurisdiction of state or federal bank regulators over the regulation of credit card processing services provided by state or national banks; or (2) Limit the rights or remedies that are otherwise available to a person or an entity that has contracted with a credit card […]