§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-6I-3. Receipt of Electronic Record
Notwithstanding the provisions of article one, chapter thirty-nine-a of this code, in a consumer transaction, an electronic record is not sent to or received by a party if the sender has actual knowledge that such party did not actually receive the electronic record. In that case, the sender's sole obligation shall be to take reasonable […]
§46A-6I-4. Electronic Transferable Records
(a) In addition to the provisions of article one, chapter thirty-nine-a of this code, this section applies to transferable records in a consumer transaction. (b) If payment is made to a person indicated to be in control of a transferable record, as described in section sixteen, article one of this chapter, by a system employed […]
§46A-6I-5. Relationship With Federal and State Law
The requirements of this article are intended to supplement, not to modify, limit, or supersede, the requirements of the federal Electronic Signatures in Global and National Commerce Act, Public Law No. 106-229, 15 U.S.C. 7001 or article one of this chapter.
§46A-6I-6. Waiver
In consumer transactions, the rules and requirements set out in this article may not be changed by agreement of the parties.
§46A-6I-7. Severability
If any provision of this article be found by a court of competent jurisdiction to be unenforceable under the Constitution of this state or the laws and Constitutions of the United States, the remaining provisions of this article shall be severable and shall continue in full force and effect.
§46A-6J-1. Emergencies and Natural Disasters – Taking Unfair Advantage of Consumers
The Legislature finds that during emergencies and major disasters, including, but not limited to, tornadoes, earthquakes, fires, floods, storms or civil disturbances or where a large-scale threat exists, some merchants have taken unfair advantage of consumers by greatly increasing prices for essential consumer goods or services. While the pricing of consumer goods and services is […]
§46A-6J-2. Definitions
(a) “Building materials” means lumber, construction tools, windows, and any other item used in the building or rebuilding of property. (b) “Consumer food item” means any article that is used or intended for use for food or drink by a person or animal. (c) “Disaster” means the occurrence or imminent threat of widespread or severe […]