§ 863.325. Disclosures required of certain home improvement contractors; penalties.

1.

If a licensee or an affiliate directly or indirectly arranges or facilitates the financing of a home improvement contract, then, prior to executing the home improvement contract, said licensee must:

a.

Disclose to the owner, in writing, any payments made or received by the licensee in connection with the financing, including the amount of such payments, on forms provided by the sealer;

b.

Provide an appropriate Consumers' Bill of Rights, prepared by the sealer; and

c.

Obtain the owner's written acknowledgement of receipt of the written disclosure of any payments and the appropriate Consumers' Bill of Rights on forms provided by the sealer.

2.

Within five (5) business days of executing a home improvement contract, any licensee required to comply with the provisions of subdivision 1, must also file with the sealer:

a.

A copy of the home improvement contract;

b.

A copy of the owner's Acknowledgement of Receipt of the written disclosure and the appropriate Consumers' Bill of Rights.

3.

In addition to the penalties set forth in sections 277.171, 277.181 and 863.52, the sealer may, after providing notice and an opportunity to be heard, revoke the license or deny the application for license renewal of any licensee that fails to comply with any of the requirements of this section.

(L.L. No. 4-2002)