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IA SSB3057
SB
AI Summary
- Requires service companies selling motor vehicle or residential service contracts in Iowa to obtain and maintain a license from the state insurance commissioner
- Mandates service companies report material changes to their license information within 30 calendar days, including changes to contact information, ownership, or officers/directors
- Requires reporting of administrative actions taken against the service company in other jurisdictions within 30 days of final disposition
- Defines key terms including "gross consideration" (total contract value without deductions), "service contract holder," "substitute part," and "support services"
- Establishes that failure to comply with Chapter 523C constitutes a violation subject to civil penalties under Section 507B.4
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.(See SF 2445.)
Last Action
Committee report approving bill, renumbered as SF 2445.
2/19/2026
Committee Referrals
Commerce1/21/2026
Full Bill Text
No bill text available