(a) A provider shall not use in its name the words insurance, casualty, surety, mutual, or any other words descriptive of the insurance, casualty, or surety business; or a name deceptively similar to the name or description of any insurance or surety corporation, or to the name of any other provider. The word "guaranty" or similar word may be used by a provider. This section shall not apply to a company that was using any of the prohibited language in its name prior to August 1, 1997. However, a company using the prohibited language in its name shall include in its service contracts a statement in substantially the following form: "This agreement is not an insurance contract."
(b) A person, such as a bank, savings and loan association, lending institution, manufacturer, or seller of any product, shall not require the purchase of a service contract as a condition of a loan or a condition for the sale of any property.
Structure Code of Alabama
Title 8 - Commercial Law and Consumer Protection.
Chapter 32 - Service Contracts.
Section 8-32-3 - Requirements for Selling or Offering to Sell Service Contracts.
Section 8-32-4 - Required Provisions, Reimbursement Insurance Policy.
Section 8-32-5 - Required Provisions, Service Contracts.
Section 8-32-6 - Prohibited Acts.
Section 8-32-7 - Record Keeping Requirements.
Section 8-32-8 - Cancellation of Reimbursement Insurance Policy.
Section 8-32-9 - Obligation of Reimbursement Insurance Policy Insurers.
Section 8-32-10 - Enforcement Provisions.
Section 8-32-11 - Rules and Regulations.
Section 8-32-12 - Service Contracts Prior to January 1, 1998.