31A-6b-302. Required disclosures.
(1) A guaranteed asset protection waiver shall disclose the information described in Subsection: (2) in writing; and in understandable language that is easy to read.
(2) A guaranteed asset protection waiver shall disclose: the name and address of the initial creditor and the borrower at the time the guaranteed asset protection waiver is executed; if there is an administrator for the guaranteed asset protection waiver: the name of the administrator; the address of the administrator; and a toll-free number to contact the administrator; the charge for the guaranteed asset protection waiver; the terms of the guaranteed asset protection waiver, including: the requirements for receiving the protection of the guaranteed asset protection waiver; the conditions imposed by the guaranteed asset protection waiver; and the exclusions from the protection of the guaranteed asset protection waiver; the procedure the borrower must follow, if any, to obtain a benefit under the guaranteed asset protection waiver, including a telephone number and address where the borrower may apply for a benefit under the guaranteed asset protection waiver; that the borrower may cancel the guaranteed asset protection waiver; the rights the borrower has to a refund under Section; 31A-6b-303 if the guaranteed asset protection waiver is cancelled or terminated after the preliminary period: the procedures for requesting a refund under Section, including that the borrower request a refund in writing in accordance with Section; and 31A-6b-303 31A-6b-303 the methodology for calculating the refund due, if any; that none of the following may be conditioned on the purchase of a guaranteed asset protection waiver: the extension of credit; a term of credit; or a term of the related vehicle sale or lease; and that a guaranteed asset protection waiver is subject to limited regulation by the commissioner; and that a complaint regarding a guaranteed asset protection waiver may be submitted to the commissioner.