ID S1357

Amends Section 49-2803 to allow motor vehicle service contract providers to obtain liability insurance from surplus lines insurers meeting specified financial requirements, in addition to admitted insurers.

Requires service contract liability insurers to maintain surplus as to policyholders and paid-in capital of at least $15,000,000 with annual financial statement filings, or $10,000,000 with a net written premiums-to-surplus ratio not exceeding 3:1 and audited financial statements.

Creates new Section 49-2805A prohibiting companies from making false, deceptive, or misleading statements regarding affiliation with vehicle manufacturers, possession of warranty information, warranty expiration status, or requirements to register for new service contracts.

Establishes misdemeanor penalties plus civil penalties of $1,000 per day for each violation of the deceptive solicitation prohibitions.

Assigns enforcement authority to the Idaho Attorney General or local prosecuting attorneys.