§46A-6N-2. Litigation Financier; Registration; Bond; Public Record; Rules
(a)(1) No litigation financier shall engage in a litigation financing transaction in this state unless it is registered as a litigation financier in this state. (2) A litigation financier that is a business entity or partnership is registered in this state if:
§46A-6N-3. Litigation Financier Requirements
A litigation financier shall fulfill each of the following requirements when engaged in litigation financing: (1) The terms of the litigation financing transaction shall be set forth in a written contract that is completely filled in with no incomplete sections when the contract is offered or presented to the consumer;
§46A-6L-105. Unfair or Deceptive Acts or Practices
Any violation of this article constitutes an unlawful act or practice under the provisions of article six of this chapter regarding fraudulent acts or practices committed by a person in connection with a consumer transaction and shall be subject to the enforcement provisions of article seven of this chapter.
§46A-6J-6. Preemption
This article preempts any local ordinance prohibiting the same or similar conduct.
§46A-6K-1. Applicability
This article applies to the settlement of loans secured by deeds of trust on owner-occupied residential dwellings with accommodations for not more than four families. This article does not apply to construction loans or any other loans which, by agreement of the parties, provide for the disbursement of the proceeds in stages.
§46A-6K-2. Definitions
(a) "Collected funds" or "good funds" means moneys used to fund the disbursement of settlement proceeds deposited and irrevocably credited to a settlement agent's account. (b) "Disbursement of loan funds" means the delivery of the loan funds by the lender to the settlement agent in the form of: (1) Cash;
§46A-6K-3. Duty of Lender; Accrual of Interest
The lender shall, at or before loan closing, cause disbursement of loan funds to the settlement agent; however, in the case of a refinancing, or any other loan where a right of rescission applies, the lender shall, within one business day after the expiration of the rescission period required under the federal Truth-in-Lending Act (15 […]
§46A-6K-4. Validity of Loan Documents
Failure to comply with the provisions of this article does not affect the validity or enforceability of any loan documents executed.
§46A-6K-5. Penalty
Any persons suffering losses due to the failure of the lender or the settlement agent to disburse settlement proceeds as required by this chapter shall be entitled to recover, in addition to other actual damages, double the amount of any interest collected in violation of section three of this article plus reasonable attorneys' fees incurred […]
§46A-6L-101. Definitions
For the purposes of this article, the following terms have the following meanings: (1) “Person” means any individual, partnership, corporation, trust, estate, cooperative, association, government or governmental subdivision or agency or other entity.