§ 5-82-1 - Requirements for guaranteed price plans, price protection and prepaid contracts.
SECTION 5-82-1
§ 5-82-1 Requirements for guaranteed priceplans, price protection and prepaid contracts. – (a) A contract for the retail sale of home heating oil that offers a guaranteedprice plan, including a ceiling price cap plan contract and any other similarplan, must be disclosed in a way to clearly define the terms and conditions ofthe price plan. The disclosure of terms and conditions must be in plainlanguage, must immediately follow the language concerning the price or servicethat could be affected and must be, if initiated verbally, confirmed in writingno more than fourteen (14) days from the initiation date using no less thantwelve (12) point boldface type of uniform font. The disclosure of terms andconditions, must include, but not be limited to, any additional fees or costsfor securing the guaranteed price, as well as, any early termination fees.
(b) A solicitation for the retail sale of home heating oilthat offers a guaranteed price plan, including a ceiling price cap plan and anyother similar plan, must be confirmed in writing, no more than fourteen (14)days from the solicitation date, and the terms and conditions of that offermust be disclosed in plain language.
(c) A home heating oil dealer that pays for media or printadvertising of a price shall offer said price for a period of no less thantwenty-four (24) hours, or until the next advertised price is so publicized,whichever occurs first.
(d) No prepaid home heating oil contract shall require anyconsumer commitment to purchase home heating oil pursuant to the terms of suchcontract for a period of more than twelve (12) months.
(e) Any violation of this chapter shall render the terms andconditions of the aforementioned contract null and void.