59B.06 ADDITIONAL REQUIRED DISCLOSURE; SERVICE CONTRACTS.
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59B.06 ADDITIONAL REQUIRED DISCLOSURE; SERVICE CONTRACTS.
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Subdivision 1. Insurance disclosure.
Service contracts insured under a reimbursement insurance policy pursuant to section 59B.03, subdivision 4 , clause (1), must contain a statement in substantially the following form: "Obligations of the provider under this service contract are insured under a service contract reimbursement insurance policy." The service contract must also state the name and address of the insurer.
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Subd. 2. Disclosure of no insurance.
Service contracts not insured under a reimbursement insurance policy pursuant to section 59B.03, subdivision 4 , clause (1), must contain a statement in substantially the following form: "Obligations of the provider under this service contract are backed by the full faith and credit of the provider."