R590-166-2. Purpose and Scope

(1) The purpose of this rule is to: (a) establish exemptions from certain requirements of Title 31A, Chapter 6a, Service Contracts; (b) allow for the use of a security deposit, a surety bond, or an irrevocable letter of credit in place of a reimbursement insurance policy; and (c) establish annual report filing requirements. (2) This rule applies to a home protection company that chooses to be backed by a security deposit, a surety bond, or an irrevocable letter of credit.