Florida Statutes 634.3123 – Noncompliant forms
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 634.3123
- Contract: A legal written agreement that becomes binding when signed.
- warranty: means any contract or agreement whereby a person undertakes to indemnify the warranty holder against the cost of repair or replacement, or actually furnishes repair or replacement, of any structural component or appliance of a home, necessitated by wear and tear or an inherent defect of any such structural component or appliance or necessitated by the failure of an inspection to detect the likelihood of any such loss. See Florida Statutes 634.301
The office may order a home warranty association to stop using any contract form that:
(1) Is in violation of or does not comply with this part.
(2) Contains or incorporates by reference, when such incorporation is otherwise permissible, any inconsistent, ambiguous, or misleading clauses or exceptions or conditions which deceptively affect the risk purported to be assumed in the general coverage of the contract.
(3) Has any title, heading, or other indication of its provisions which is misleading.
(4) Is printed or otherwise reproduced in such a manner as to render any material provision of the form illegible.
(5) Provides that the cost of renewal exceeds the then-current cost for new warranty contracts, unless the increase is supported by the claims history or claims cost data, or impose a fee for inspection of the premises.