§ 4-116-106. Oral disclosures
(a) If a consumer applies for a refund anticipation loan, the facilitator shall orally inform the consumer: (1) That the product is a loan that lasts one (1) or two (2) weeks; (2) That if the consumer’s tax refund is less than expected, the consumer is liable for the full amount of the loan and […]
§ 4-116-107. Prohibited activities
A facilitator shall not: (1) Require a consumer to enter into a loan agreement in order to complete a tax return; (2) (A) Charge or impose any fee or charge or require other consideration in the making or facilitating of a refund anticipation loan or refund anticipation check apart from the fee charged by the […]
§ 4-116-108. Remedies
(a) A facilitator who violates a provision of this chapter is in violation of the Deceptive Trade Practices Act, § 4-88-101 et seq., and a consumer shall have all rights and remedies provided under this law. (b) A facilitator who willfully fails to comply with any provision of this chapter is liable to the consumer […]
§ 4-116-101. Title and intent
(a) This act shall be known and referred to as the “Refund Anticipation Loan Act”. (b) It is the intent of the General Assembly that this act shall protect consumers who enter into a refund anticipation loan and a refund anticipation check transaction.
§ 4-116-102. Definitions
(1) “Consumer” means a person who, individually or in conjunction with another consumer, is solicited for, applies for, or receives a refund anticipation loan or refund anticipation check; (2) “Creditor” means a person who makes a refund anticipation loan or who takes an assignment of a refund anticipation loan; (3) (A) “Facilitator” means a person […]
§ 4-116-103. Scope
Unless a facilitator has complied with the provisions of this chapter, a facilitator, including any officer, agent, employee or representative, individually or in conjunction or cooperation with another person, shall not: (1) Solicit the execution of, process, receive, or accept an application or agreement for a refund anticipation loan or refund anticipation check; or (2) […]
§ 4-116-104. Posting of fee schedules and disclosures
(a) A facilitator shall display a schedule showing the current fees for refund anticipation loans or refund anticipation checks facilitated at the office. (b) A facilitator also shall prominently display on each fee schedule the following information: (1) Examples of the interest rates charged for refund anticipation loans in the amounts of: (A) Two hundred […]
§ 4-116-105. Application disclosures
(a) When a consumer applies for a refund anticipation loan, the facilitator shall disclose to the consumer on a colored-paper form separate from the application in 14-point type face, the following information: (1) The fee for the refund anticipation loan, including the fee for the tax preparation and other fees charged the consumer; (2) The […]