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 creditor shall disclose the waiver:
- (a) to the debtor;
- (b) in the closed-end consumer contract; and
- (c) for a closed-end consumer contract entered into on or after August 1, 2006, in:
- (i) bold type; or
- (ii) all capital letters.
Enacted by Chapter 172, 2006 General Session