Effective 5/12/2020 31A-6a-103. Requirements for doing business. (1) A service contract or vehicle protection product warranty may not be issued, sold, or offered for sale in this state unless the service contract or vehicle protection product warranty is insured under a reimbursement insurance policy issued by: (a) an insurer authorized to do business in this […]
Effective 5/4/2022 31A-6a-104. Required disclosures. (1) A reimbursement insurance policy insuring a service contract or a vehicle protection product warranty that is issued, sold, or offered for sale in this state shall conspicuously state that, upon failure of the service contract provider or warrantor to perform under the contract, the issuer of the policy shall: […]
31A-6a-106. Recordkeeping requirements. (1) (a) All service contract providers shall keep accurate accounts, books, and records concerning transactions regulated under this chapter. (b) A service contract provider’s accounts, books, and records shall include: (i) copies of all service contracts issued; (ii) the name and address of each service contract holder; and (iii) claims files. (c) […]
31A-6a-107. Cancellation of reimbursement insurance. The issuer of a reimbursement insurance policy may not cancel the policy until a notice of cancellation in accordance with Section 31A-21-303, 31A-21-304, or 31A-21-305 has been mailed or delivered to the commissioner and to each insured provider. The cancellation of a reimbursement policy may not reduce the issuer’s responsibility […]
31A-6a-108. Obligation of reimbursement insurance issuers. Providers under this chapter are considered to be the agent of the issuer of the reimbursement insurance for purposes of Section 31A-23a-410. In cases where a provider is acting as an administrator and enlists other providers, the provider acting as the administrator shall notify the issuer of the reimbursement […]
31A-6a-109. Enforcement provisions. Anyone violating of any of the provisions of this chapter or any rule made pursuant to the grant of rulemaking authority under this title may be assessed an administrative forfeiture equal to two times the amount of any profit gained from the violation. In addition an administrative forfeiture may be assessed for […]
31A-6a-110. Rulemaking. (1) Pursuant to Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may make rules necessary to assist in the enforcement of this chapter. (2) The commissioner may by rule or order, after a hearing, exempt certain service contract providers or service contract providers for a specific class of service contracts that […]
Effective 5/8/2018 31A-6a-111. Vehicle protection product warranty requirements. (1) A warrantor shall make a reimbursement promised under a vehicle protection product warranty as specified in the warranty, regardless of, and not contingent upon, the payment of a benefit provided for under the warranty holder’s primary vehicle insurance or any other contract. (2) (a) If a […]
