OK HB2715

Service contracts issued on or after July 1, 2017 must display the service warranty association's name and license number, either preprinted or added by printer at time of sale, so consumers can clearly identify the contract obligor

Service warranty associations must provide consumers with a complete sample copy of contract terms and conditions prior to sale upon request, either as a physical copy or by directing them to a website displaying the information

Insurance Commissioner gains authority to examine claim files of licensed service warranty associations; associations must respond to Commissioner inquiries within 30 days and to claimant communications within 30 days

Violations of claim file and response requirements subject associations to civil penalties of $100 to $5,000

Insurance Commissioner may issue emergency cease and desist orders against unauthorized associations or those engaged in fraudulent, hazardous, or deceptive practices; affected parties have 30 days to request a hearing