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 […]
Section 202 – Assignment of earnings prohibited.
70C-2-202. Assignment of earnings prohibited. A creditor may not directly or indirectly take or receive from a debtor an obligation that constitutes or contains an assignment of wages or other earnings unless (1) the assignment by its own terms is revocable at the will of the debtor; (2) the assignment is a payroll deduction plan, […]
Section 203 – Additional security in consumer leases prohibited.
70C-2-203. Additional security in consumer leases prohibited. A lessor, in order to secure the debt arising from a consumer lease, may not take a security interest in the dwelling of the lessee. A security interest taken in violation of this section is void from its inception. Enacted by Chapter 159, 1985 General Session
Section 102 – Purposes — Rules of construction.
70C-1-102. Purposes — Rules of construction. (1) This title shall be liberally construed and applied to promote its underlying purposes and policies. (2) The underlying purposes and policies of this title are: (a) to further consumer understanding of the terms of credit transactions and to foster competition among suppliers of consumer credit so that consumers […]
Section 103 – General principles of law apply — Treatment of charge or fee.
70C-1-103. General principles of law apply — Treatment of charge or fee. (1) Unless displaced by the particular provisions of this title, the Uniform Commercial Code and the principles of law and equity, including without limitation the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, and bankruptcy shall […]
Section 105 – Limitations by other laws not displaced.
70C-1-105. Limitations by other laws not displaced. This title does not displace limitations on powers an organization is authorized to exercise under the laws of this state or the United States. Enacted by Chapter 159, 1985 General Session
Section 106 – Determination of interest rate.
70C-1-106. Determination of interest rate. For purposes of determining the interest rate allowed by the laws of this state under Section 85 of the National Bank Act and Sections 521 and 522 of the Depository Institutions Deregulation and Monetary Control Act of 1980, all finance charges, all fees charged for participation in a credit plan, […]
Section 201 – Covered transactions.
70C-1-201. Covered transactions. Except as provided in Section 70C-1-202, the provisions of this title apply to all credit offered or extended by a creditor to an individual person primarily for personal, family, or household purposes. Enacted by Chapter 159, 1985 General Session
Section 202 – Exempted transactions.
Effective 5/13/2014 70C-1-202. Exempted transactions. (1) Notwithstanding the exceptions in Subsection (2), parties to a credit transaction that is otherwise exempt from this title may explicitly agree in writing that the transaction is subject to this title. The agreement shall specifically reference Title 70C, Utah Consumer Credit Code. (2) This title does not apply to […]