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IA SF2445
Bill
AI Summary
- Requires service companies offering motor vehicle or residential service contracts in Iowa to obtain and maintain a state license for the duration of their contractual obligations to customers.
- Mandates service companies report material changes to their license application information, including ownership, officers, or contact details, to the commissioner within 30 calendar days.
- Requires service companies to report administrative actions taken against them in other jurisdictions and criminal prosecutions of owners (with more than 10% stake), officers, or directors involving dishonesty or fraud within 30 days.
- Adds new definitions to Iowa Code Chapter 523C, including "gross consideration," "service contract holder," "substitute part," and "support services," while clarifying that support service providers are exempt from licensing requirements.
- Establishes that failure to comply with Chapter 523C service contract requirements constitutes an unfair trade practice under Section 507B.4, subject to civil penalties.
Legislative Description
A bill for an act relating to licensing of service companies, motor vehicle service contracts, and residential service contracts, and providing civil penalties.(Formerly SSB 3057.)
Last Action
Subcommittee: Bousselot, Koelker, and Winckler. S.J. 393.
2/24/2026
Committee Referrals
Ways and Means2/24/2026
Full Bill Text
No bill text available