(1) A person may not issue, sell, offer to sell, or otherwise provide a vehicle value protection agreement that does not comply with this chapter.
(2) A vehicle value protection agreement shall conspicuously disclose:
(a) the name, address, and contact information of:
(i) the provider;
(ii) the agreement administrator, if any; and
(iii) the purchaser;
(b) the terms of the vehicle value protection agreement, including:
(i) the charges under the vehicle value protection agreement;
(ii) the benefit eligibility requirements;
(iii) the conditions imposed by the vehicle value protection agreement; and
(iv) the procedure a purchaser is required to follow to obtain the benefit; and
(c) subject to Subsection (3), the terms or restrictions governing cancellation of the vehicle value protection agreement, including:
(i) that the purchaser may cancel the vehicle value protection agreement during the preliminary period;
(ii) the length of the preliminary period;
(iii) the purchaser's right to a refund for cancellation under Section 13-64-203; and
(iv) the methodology for calculating any refund to the purchaser for cancellation.
(3) The disclosure described in Subsection (2)(c)(i) shall:
(a) be written in dark bold with at least 12-point type on the first page of the vehicle value protection agreement; and
(b) read as follows: "IN ACCORDANCE WITH UTAH CODE SECTION 13-64-203, YOU, THE PURCHASER, MAY CANCEL THIS AGREEMENT AT ANY TIME BEFORE THE END OF THE PRELIMINARY PERIOD DESCRIBED IN THIS AGREEMENT."
(4) The provider shall provide the purchaser a copy of the vehicle value protection agreement at the time the provider and purchaser enter into the vehicle value protection agreement.
(5) A finance agreement or vehicle purchase agreement may not be conditioned on a purchaser entering into a vehicle value protection agreement.