Section 204 – Certain negotiable instruments prohibited.
70C-2-204. Certain negotiable instruments prohibited. With respect to a consumer credit sale not involving real property, the seller may not take a negotiable instrument under Section 70A-3-104 other than a check as evidence of the obligation of the buyer. A holder is not in good faith under Subsection 70A-1a-201(2)(t) if he takes a negotiable instrument […]
Section 205 – Assignee subject to defenses.
70C-2-205. Assignee subject to defenses. With respect to a consumer credit sale, an assignee of the rights of the seller is subject to all defenses of the buyer against the seller arising out of the credit sale, but the assignee’s liability under this section may not exceed the amount owing to the assignee at the […]
Section 206 – Settlement of claims.
70C-2-206. Settlement of claims. (1) A claim by a debtor against a creditor for an excess charge, other violation of this title, or civil penalty if disputed in good faith, may be settled by agreement for less value than the amount claimed, unless a court, as a matter of law, finds the settlement to have […]
Section 207 – Referral sales.
70C-2-207. Referral sales. With respect to a consumer credit sale, the seller may not give or offer to give a rebate or discount or otherwise pay or offer to pay value to the buyer as an inducement for a sale in consideration of his giving to the seller the names of prospective purchasers or otherwise […]
Section 101 – Finance and other charges.
70C-2-101. Finance and other charges. Except where restricted or otherwise covered by provisions of this title, the parties to a consumer credit agreement may contract for payment by the debtor of any finance charge and other charges and fees. Enacted by Chapter 159, 1985 General Session
Section 102 – Delinquency charges.
70C-2-102. Delinquency charges. (1) (a) The parties to any consumer credit agreement may contract for a delinquency charge on any installment not paid in full by its scheduled due date in an amount not exceeding the greater of: (i) $30; or (ii) 5% of the delinquent unpaid amount of the installment. (b) Notwithstanding Subsection (1)(a), […]
Section 103 – Deferral charges.
70C-2-103. Deferral charges. (1) The parties to any consumer credit agreement before or after default may agree in writing to defer all or part of one or more unpaid installments. Except in connection with an open-end credit agreement, the parties may also agree in writing at any time that if an installment is not paid […]
Section 104 – Advances to perform covenants of buyer.
70C-2-104. Advances to perform covenants of buyer. If a consumer credit agreement contains covenants by the debtor to perform certain duties pertaining to insuring or preserving collateral and the creditor pursuant to the agreement pays for performance of the duties on behalf of the debtor, the creditor may add the amounts paid to the unpaid […]
Section 105 – Attorney’s fees.
70C-2-105. Attorney’s fees. A consumer credit agreement may provide for the payment of reasonable attorney’s fees in the event of default and referral to an attorney including one who is a salaried employee of the creditor or its assignee. Enacted by Chapter 159, 1985 General Session
Section 201 – Authorization to confess judgment prohibited.
70C-2-201. Authorization to confess judgment prohibited. A creditor or its successor in interest may not, directly or indirectly, take or receive from a debtor an obligation that constitutes or contains a cognovit or confession of judgment, warrant of attorney, or other waiver of the right to notice and the opportunity to be heard in the […]