31A-6a-105 - Prohibited acts. - Utah Statutes

31A-6a-105. Prohibited acts.
(1) Except as provided in Subsection 31A-6a-104(2), a service contract provider may notuse 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 withthe sale, offer to sell, or advertisement of a service contract; or
(b) deliberately omit a material statement that would be considered misleading ifomitted, 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 institutionmay 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, aservice contract provider may not sell, or be the obligated party for:
(a) a guaranteed asset protection waiver, unless registered with the commissioner underChapter 6b, Guaranteed Asset Protection Waiver Act;
(b) a debt cancellation agreement, unless licensed by the commissioner; or
(c) a debt suspension agreement, unless licensed by the commissioner.

Amended by Chapter 274, 2010 General Session