13-64-201. Vehicle value protection agreement -- Required disclosures -- Finance agreement conditions.
(1) A person may not issue, sell, offer to sell, or otherwise provide a vehicle value protection agreement that does not comply with this chapter.
(2) A vehicle value protection agreement shall conspicuously disclose: the name, address, and contact information of: the provider; the agreement administrator, if any; and the purchaser; the terms of the vehicle value protection agreement, including: the charges under the vehicle value protection agreement; the benefit eligibility requirements; the conditions imposed by the vehicle value protection agreement; and the procedure a purchaser is required to follow to obtain the benefit; and subject to Subsection, the terms or restrictions governing cancellation of the vehicle value protection agreement, including: (3) that the purchaser may cancel the vehicle value protection agreement during the preliminary period; the length of the preliminary period; the purchaser's right to a refund for cancellation under Section; and 13-64-203 the methodology for calculating any refund to the purchaser for cancellation.
(3) The disclosure described in Subsectionshall: (2)(c)(i) be written in dark bold with at least 12-point type on the first page of the vehicle value protection agreement; and read as follows: "IN ACCORDANCE WITH UTAH CODE SECTION, YOU, THE PURCHASER, MAY CANCEL THIS AGREEMENT AT ANY TIME BEFORE THE END OF THE PRELIMINARY PERIOD DESCRIBED IN THIS AGREEMENT." 13-64-203
(4) The provider shall provide the purchaser a copy of the vehicle value protection agreement at the time the provider and purchaser enter into the vehicle value protection agreement.
(5) A finance agreement or vehicle purchase agreement may not be conditioned on a purchaser entering into a vehicle value protection agreement.