1.Definition. As used in this section, "tie-in sales" means the practice of tying the sale of one product to another.
[
1991, c. 49, (NEW)
.]
2.Prohibited tie-in sales. In the purchase of insurance, tie-in sales are an unfair trade practice when:
A. The consumer is required to place additional coverage with an insurer not of the consumer's choice in order to obtain a
desired coverage; and [1991, c. 49, (NEW).]
B. The consumer's alternative opportunities to purchase the desired coverage are severely limited or nonexistent. [1991, c. 49, (NEW).]
[
1991, c. 49, (NEW)
.]
3.Penalties. An insurance contract sold in violation of the provisions of this section is voidable at the option of the consumer. Violations
of this section are enforceable through section 12-A.
[
1991, c. 49, (NEW)
.]
SECTION HISTORY
1991, c. 49, (NEW).
Data for this page extracted on 11/09/2009 11:20:25.