Iowa SSB3057 regulates service companies, motor vehicle service contracts, and residential service contracts, and provides civil penalties.

Iowa SSB3057 amends the licensing requirements for service companies offering motor vehicle and residential service contracts. The bill mandates that only licensed service companies can issue, offer for sale, or sell service contracts. It outlines specific obligations for service companies, including providing clear, understandable service contract language, offering sample contracts before purchase, and promptly addressing claims. The bill also details the process for license renewal and the penalties for noncompliance, including fines and license suspension or revocation.

Iowa SSB3057 regulates service companies, motor vehicle service contracts, and residential service contracts, and provides civil penalties.

Iowa SSB3057 amends the licensing requirements for service companies offering motor vehicle and residential service contracts. The bill mandates that only licensed service companies can issue, offer for sale, or sell service contracts. It outlines specific obligations for service companies, including providing clear, understandable service contract language, offering sample contracts before purchase, and promptly addressing claims. The bill also details the process for license renewal and the penalties for noncompliance, including fines and license suspension or revocation.