385.424. Prohibited use of names and terms.
Prohibited use of names and terms.
385.424. 1. Unless licensed as an insurance company, a vehicleprotection product warrantor shall not use in its name, contracts, orliterature the words "insurance", "casualty", "surety", "mutual", or anyother word that is descriptive of the insurance, casualty, or suretybusiness or that is deceptively similar to the name or description of anyinsurance or surety corporation or any other vehicle protection productwarrantor. A warrantor may use the term "guaranty" or a similar word inthe warrantor's name. A warrantor or its representative shall not in itsvehicle protection product warranties or literature make, permit, or causeto be made any false or misleading statement, or deliberately omit anymaterial statement that would be considered misleading if omitted, inconnection with the sale, offer to sell, or advertisement of a vehicleprotection product warranty.
2. A vehicle protection product seller or warrantor may not requireas a condition of financing that a retail purchaser of a motor vehiclepurchase a vehicle protection product.
(L. 2008 S.B. 930 & 947)Effective 1-01-09