§ 4-116-104. Posting of fee schedules and disclosures
(a) A facilitator shall display a schedule showing the current fees for refund anticipation loans or refund anticipation checks facilitated at the office. (b) A facilitator also shall prominently display on each fee schedule the following information: (1) Examples of the interest rates charged for refund anticipation loans in the amounts of: (A) Two hundred […]
§ 4-114-104. Requirements for doing business
(a) A provider may appoint an administrator or other designee to be responsible for all or part of the administration of service contracts and compliance with this chapter. (b) Service contracts shall not be issued, sold, or offered for sale in this state unless the provider or its designee has: (1) Provided a receipt or […]
§ 4-116-105. Application disclosures
(a) When a consumer applies for a refund anticipation loan, the facilitator shall disclose to the consumer on a colored-paper form separate from the application in 14-point type face, the following information: (1) The fee for the refund anticipation loan, including the fee for the tax preparation and other fees charged the consumer; (2) The […]
§ 4-114-105. Required disclosures — Reimbursement insurance policy
(a) Reimbursement insurance policies insuring service contracts issued, sold, or offered for sale in this state shall state that the insurer that issued the reimbursement insurance policy shall: (1) Reimburse or pay on behalf of the provider any covered sums the provider is legally obligated to pay; or (2) In the event of the provider’s […]
§ 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 […]
§ 4-112-109. Written confirmation
(a) If a security freeze is in place, a consumer reporting agency shall not change any of the following official information in a credit report without sending a written confirmation of the change to the consumer within thirty (30) days of posting the change to the file of the consumer: (1) Name; (2) Date of […]