Louisiana Revised Statutes 51:3145 – A home service contract shall require every provider to permit the service contract holder to return the home service contract within twenty days of the date the home service contrac
Terms Used In Louisiana Revised Statutes 51:3145
- Contract: A legal written agreement that becomes binding when signed.
- contract holder: means a person who is the purchaser or holder of a home service contract. See Louisiana Revised Statutes 51:3142
- Home service contract: means a contract or agreement for a separately stated consideration for any duration to perform the service, repair, replacement, or maintenance of property or indemnification for service, repair, replacement, or maintenance, for the operational or structural failure of any residential property due to a defect in materials, workmanship, inherent defect, or normal wear and tear, with or without additional provisions for incidental payment or indemnity under limited circumstances. See Louisiana Revised Statutes 51:3142
- Provider: means a person who is contractually obligated to provide the services or indemnification under a home service contract. See Louisiana Revised Statutes 51:3142
A home service contract shall require every provider to permit the service contract holder to return the home service contract within twenty days of the date the home service contract was mailed to the service contract holder or within ten days of delivery if the home service contract is delivered to the service contract holder at the time of sale or within a longer time period permitted under the home service contract. Upon return of the home service contract to the provider within the applicable time period, if no claim has been made under the home service contract prior to its return to the provider, the home service contract is void and the provider shall refund to the service contract holder, or credit the account of the service contract holder, with the full purchase price of the home service contract. The right to void the home service contract provided is not transferable and shall apply only to the original service contract holder and only if no claim has been made prior to its return to the provider. A ten percent penalty per month shall be added to a refund that is not paid or credited within forty-five days after return of the home service contract to the provider.
Acts 2015, No. 161, §§1, 3(A), eff. Jan. 11, 2016.