(2) A person that sells a guaranteed asset protection waiver in connection with a retail sale of a motor vehicle may not:
(a) Charge more for the guaranteed asset protection waiver than five percent of the amount the borrower finances under a finance agreement; or
(b) Vary the benefits, terms, conditions or price of the guaranteed asset protection waiver on account of a borrower’s race, sex, sexual orientation, gender identity, income or education. [2015 c.523 §7; 2021 c.367 §28]