[481X-10] Prohibited acts. (a) No provider shall use in its name, the word "insurance", "casualty", "surety", "mutual", or any other word descriptive of the insurance, casualty, or surety business, or a name deceptively similar to the name or description of any insurance or surety corporation, or to the name of any other provider; provided that the word "guaranty" or similar word may be used by a provider. This section shall not apply to a provider using any language prohibited by this section in its name prior to July 1, 2000.

(b) A provider or its representative shall not in its service contracts or literature make, permit, or cause to be made, any false or misleading statement, or deliberately omit any material statement that would be considered misleading if omitted.

(c) No person shall condition a loan or the sale of any property on the purchase of a service contract. [L 2000, c 221, pt of 2]

 

Revision Note

 

"July 1, 2000" substituted for "the effective date of this Act".

 

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