Indiana § 24-5-11-10.5 - Prohibited acts; contracts with insured consumers for exterior improvements; right to cancel; services performed; acting as public adjuster prohibited

§ 24-5-11-10.5. Prohibited acts; contracts with insured consumers for exterior improvements; right to cancel; services performed; acting as public adjuster prohibited

Sec. 10.5. (a) A real property improvement supplier shall not advertise, offer, or promise to pay or rebate any part of an insurance deductible to induce a person to enter into a real property improvement contract or otherwise purchase goods or services from the real property improvement supplier. Acts prohibited by this subsection include the following:

(1) Advertising, offering, or promising to grant an allowance or a discount against the real property improvement contract price or against other fees or charges.

(2) Advertising, offering, or promising to pay to an insured consumer, or to any other person, any form of compensation, including a gift, prize, bonus, coupon, credit, referral fee, or other item of monetary value for any reason, including the display of a sign or advertisement on real property.

(b) This subsection applies to a real property improvement contract that is entered into by a real property improvement supplier and an insured consumer after June 30, 2012, and before July 1, 2017, and that includes one (1) or more exterior improvements. An insured consumer who enters into a real property improvement contract for which the real property improvement contract price, or charges for other goods and services under the contract, are to be paid, in whole or in part, from the proceeds of an insurance policy, may cancel the contract before midnight on the third business day after the insured consumer has received written notice from the insurance company that any part of the claim or contract is not a covered loss under the insurance policy. An insured consumer who seeks to cancel a real property improvement contract under this subsection must provide to the real property improvement supplier, at the address specified in the form provided under section 10(c)(6)(B) of this chapter, written notice of the insured consumer's intent not to be bound by the contract. If the notice of cancellation is sent by mail, the notice is effective upon deposit of the notice into the United States mail, with postage prepaid and the notice properly addressed to the real property improvement supplier. Subject to subsection (c), not later than ten (10) days after a real property improvement contract is cancelled under this subsection, the real property improvement supplier shall tender to the insured consumer:

(1) any payment or deposit made by the insured consumer; and

(2) any note or other evidence of indebtedness of the insured consumer.

(c) If:

(1) an insured consumer cancels a real property improvement contract under subsection (b); and

(2) the real property improvement supplier has performed emergency or temporary services that the insured consumer acknowledged in writing before their performance to be necessary to prevent damage to the residential property;

the real property improvement supplier is entitled to the reasonable value of the emergency or temporary services performed.

(d) A real property improvement supplier shall not act as a public adjuster (as defined in IC 27-1-27-1).

As added by P.L.82-2012, SEC.8. Amended by P.L.170-2017, SEC.19.