§ 5-83-1. Requirements for guaranteed price plans, price protection, and prepaid contracts. (a) A contract for the retail sale of propane gas that offers a guaranteed price plan, including a ceiling price cap plan contract and any other similar plan, must be disclosed in a way to clearly define the terms and conditions of the price plan. The disclosure of terms and conditions must be in plain language, must immediately follow the language concerning the price or service that could be affected and must be, if initiated verbally, confirmed in writing no more than fourteen (14) days from the initiation date using no less than twelve (12) point boldface type of uniform font. The disclosure of terms and conditions must include, but not be limited to, any additional fees or costs for securing the guaranteed price, as well as, any early termination fees, and shall express the price in terms of the sum of any such fees divided by the number of gallons delivered.

(b) A solicitation for the retail sale of propane gas that offers a guaranteed price plan, including a ceiling price cap plan and any other similar plan, must be confirmed in writing no more than fourteen (14) days from the solicitation date, and the terms and conditions of that offer must be disclosed in plain language.

(c) A propane gas dealer that pays for media or print advertising of a price shall offer said price for a period of no less than twenty-four (24) hours or until the next advertised price is so publicized, whichever occurs first.

(d) No prepaid propane gas contract shall require any consumer commitment to purchase propane gas pursuant to the terms of such contract for a period of more than twelve (12) months.

(e) Any violation of this section shall render the terms and conditions of the aforementioned contract null and void.

History of Section. (P.L. 2009, ch. 333, § 1; P.L. 2011, ch. 214, § 1; P.L. 2011, ch. 312, § 1; P.L. 2012, ch. 116, § 1; P.L. 2012, ch. 123, § 1.)