(1) The purpose of this rule is to:
- (a) establish exemptions from certain requirements of Title 31A, Chapter 6a, Service Contracts;
- (b) allow for the use of a security deposit, a surety bond, or an irrevocable letter of credit in place of a reimbursement insurance policy; and
- (c) establish annual report filing requirements.
- (2) This rule applies to a home protection company that chooses to be backed by a security deposit, a surety bond, or an irrevocable letter of credit.
KEY: insurance
Date of Last Change: February 8, 2022
Notice of Continuation: April 3, 2024
Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-6a-110