Bill regulates service companies, motor vehicle service contracts, and residential service contracts in Iowa.
The bill mandates licensing for service companies offering service contracts in Iowa. It outlines requirements for service contracts, including clear language, cancellation instructions, and specific disclosures. Service companies must report material changes and administrative actions to the commissioner. The bill also details penalties for violations, including civil penalties and license suspension or revocation. It prohibits unfair trade practices and false advertising in service contract marketing.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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