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 – Prepayment of debt.
70C-3-101. Prepayment of debt. (1) (a) Subject to the other provisions of this section, a debtor may prepay the unpaid balance of a closed-end consumer credit debt at any time without penalty. (b) Notwithstanding Subsection (1)(a), a debtor may be required to pay a prepayment fee for prepaying a closed-end extension of credit secured by […]
Section 102 – Balloon payment.
70C-3-102. Balloon payment. If any scheduled payment of a closed-end consumer credit debt is more than twice as large as the average of all earlier scheduled payments, the debtor has the right to refinance the amount of that payment at the time it is due if the creditor is still offering that type of credit […]
Section 103 – Delinquency charges — Conversion of account.
70C-3-103. Delinquency charges — Conversion of account. (1) With respect to a closed-end loan, a delinquency charge may not be assessed on a payment that is a payment in full for the scheduled installment period solely because of an unpaid delinquency charge relating to an earlier installment. (2) (a) With respect to a closed-end loan […]
Section 104 – Class actions.
70C-3-104. Class actions. (1) In accordance with this section, a creditor may contract with the debtor of a closed-end consumer contract for a waiver by the debtor of the right to initiate or participate in a class action related to the closed-end consumer contract. (2) To contract for the waiver described in Subsection (1), the […]
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