Our towbar folds up out of the way when not in use. We have a cover for it.
(sorry about the upside down photo. I tried posting it right side up and the upside down an it still shows up wrong )
The pin attaching the towbar to the hitch receiver has a lock on it. The safety cables, electrical umbilical harness and the removable tow receptacles that attach to the base plates on the truck are all stowed in a dedicated box in one of the rear storage compartments.
When towing, the towbar cover is placed in that box.