§ 26-49-106 — Prohibited acts

(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 April
1, 1999. 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 provider or its representative shall not in its
service contracts or literature make, permit or cause to be made
any false or misleading statement, or deliberately omit any
material statement that would be considered misleading if
omitted.
(c) 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.