Section 202 – Operational requirements for title loans.
7-24-202. Operational requirements for title loans. (1) A title lender shall: (a) post in a conspicuous location on its premises that can be viewed by a person seeking a title loan: (i) a complete schedule of any interest or fees charged for a title loan that states the interest and fees: (A) as dollar amounts; […]
Section 203 – Disclosure form for title loans.
7-24-203. Disclosure form for title loans. (1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the department shall adopt a disclosure form for title loans that complies with this section. (2) The department shall specify by rule: (a) the information to be provided in the disclosure form including: (i) the costs of […]
Section 204 – Remedy for default.
7-24-204. Remedy for default. Except in the event of fraud by a borrower, if a borrower defaults on a title loan: (1) the title lender’s sole remedy is to seek repossession and sale of the property securing the title loan; (2) the title lender may not pursue the borrower personally for: (a) repayment of the […]
Section 301 – Enforcement by department — Rulemaking.
7-24-301. Enforcement by department — Rulemaking. (1) Subject to the requirements of Title 63G, Chapter 4, Administrative Procedures Act, the department may: (a) receive and act on complaints; (b) take action designed to obtain voluntary compliance with this chapter; or (c) commence administrative or judicial proceedings on its own initiative to enforce compliance with this […]
Section 302 – Examination of books, accounts, and records by the department.
7-24-302. Examination of books, accounts, and records by the department. (1) The department may examine the books, accounts, and records of a title lender and may make investigations to determine compliance with this chapter. (2) In accordance with Section 7-1-401, a title lender shall pay a fee for an examination conducted under Subsection (1). Enacted […]
Section 303 – Penalties.
7-24-303. Penalties. (1) A person who violates this chapter or who files materially false information with a registration or renewal under Section 7-24-201 is: (a) guilty of a class B misdemeanor except for a violation of: (i) Subsection 7-24-202(1)(e)(i), (ii), or (iii); or (ii) rules made under Subsection 7-24-301(2)(b); and (b) subject to revocation of […]
Section 304 – Civil liability.
7-24-304. Civil liability. Nothing in this chapter is intended to limit any civil liability that may exist against a title lender for: (1) breach of contract; (2) violation of federal law; or (3) other unlawful act. Enacted by Chapter 236, 2003 General Session
Section 402 – Electronic disbursement and collections.
7-23-402. Electronic disbursement and collections. If a deferred deposit lender collects payment on a deferred deposit loan through an electronic payment, the deferred deposit lender shall, on the day the loan is executed: (1) credit the amount of the deferred deposit loan through an electronic payment to the person receiving the deferred deposit loan; or […]
Section 403 – Extended payment plan.
Effective 7/1/2016 7-23-403. Extended payment plan. (1) (a) If a person who owes money on a deferred deposit loan requests to enter into an extended payment plan, the deferred deposit lender who extended the deferred deposit loan shall allow the person to enter into an extended payment plan that meets the requirements of this section […]
Section 501 – Enforcement by department — Rulemaking.
7-23-501. Enforcement by department — Rulemaking. (1) Subject to the requirements of Title 63G, Chapter 4, Administrative Procedures Act, the department may: (a) receive and act on complaints; (b) take action designed to obtain voluntary compliance with this chapter; (c) commence administrative or judicial proceedings on its own initiative to enforce compliance with this chapter; […]