§ 12-10-901. Definitions
As used in this part 9, unless the context otherwise requires: “Home warranty service company”, referred to in this part 9 as the “company”, means any person who undertakes a contractual obligation on a new or preowned home through a home warranty service contract. “Home warranty service contract” means any contract or agreement whereby a […]
§ 12-10-902. Purchase of Service Contract Not Compulsory
A company selling, offering to sell, or effecting the issuance of a home warranty service contract under this part 9 shall not in any manner require a home buyer or seller, or prospective home buyer or seller, or person refinancing a home to purchase a home warranty service contract. Source: L. 2019: Entire title R&RE […]
§ 12-10-903. Contract Requirements
Every home warranty service contract shall contain the following information: A specific listing of all items or elements excluded from coverage; A specific listing of all other limitations in coverage, including the exclusion of preexisting conditions if applicable; The procedure that is required to be followed in order to obtain repairs or replacements; A statement […]
§ 12-10-904. Penalty for Violation
Any person who knowingly violates any provision of this part 9 commits a class 2 misdemeanor and shall be punished as provided in section 18-1.3-501. Each instance of violation shall be considered a separate offense. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 716, § 1, effective October 1. Editor’s […]
§ 12-10-905. Prohibitions
It is unlawful for any lending institution to require the purchase of a home warranty service contract as a condition for granting financing for the purchase of the home. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 716, § 1, effective October 1. L. 2020: Entire section amended, (HB 20-1214), […]
§ 12-10-906. Repeal of Part – Subject to Review
This part 9 is repealed, effective September 1, 2026. Before the repeal, this part 9 is scheduled for review in accordance with section 24-34-104. Source: L. 2019: Entire title R&RE with relocations, (HB 19-1172), ch. 136, p. 716, § 1, effective October 1. L. 2020: Entire section amended, (HB 20-1214), ch. 122, p. 519, § […]