18-606. Consumer protection

A. Before providing an innovative property product or service to consumers, a sandbox participant must disclose to consumers all of the following:

1. The name and contact information of the sandbox participant, including the registration number provided by the chief executive officer pursuant to section 18-605.

2. That the innovative property product or service is authorized pursuant to the property technology sandbox and, if applicable, that the sandbox participant does not have authorization to generally provide products or services under state laws that regulate a property product or service that is outside the property technology sandbox.

3. That this state does not endorse or recommend the innovation.

4. That the innovative property product or service is a temporary test that may be discontinued at the end of the testing period, including the expected end date of the testing period.

5. That complaints may be filed with the chief executive officer regarding the innovative property product or service being tested and the chief executive officer's telephone number and website address where complaints may be filed.

B. The disclosures prescribed by subsection A of this section must be provided to consumers in a clear and conspicuous form in both English and Spanish. For internet or application-based innovative property products or services, consumers must acknowledge receipt of these disclosures before completion of a transaction.

C. The chief executive officer may require that a sandbox participant make additional disclosures to consumers. If the chief executive officer approves an application for entry into the property technology sandbox, the chief executive officer shall notify the sandbox participant of the additional disclosures.