[§481X-6] Service contracts; receipt; disclosures. (a) Providers shall provide purchasers of a service contract with:
(b) Service contracts shall be written in clear, understandable language, and shall be printed or typed in a typeface and format that is easy to read.
(c) All service contracts shall:
The information under paragraphs (1) and (2) shall not be required to be preprinted on the service contract and may be added to the service contract at the time of sale. The purchase price under paragraph (3) shall not be required to be preprinted on the service contract and may be negotiated with the contract holder at the time of sale.
(d) Service contracts insured under a contractual liability insurance policy shall include the name and address of the insurer and contain a statement substantially similar to the following:
"Obligations of the provider under this service contract are insured under a service contract contractual liability insurance policy."
(e) Service contracts not insured under a contractual liability insurance policy shall contain a statement substantially similar to the following:
"Obligations of the provider under this service contract are backed by the full faith and credit of the provider."
[L 2000, c 221, pt of §2]