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6,137 statutes · page 287 of 307
United States — Utah legislation
20 statutes shown from 6,137 source-backed records
A person must register before engaging in cash-checking or deferred-deposit lending in Utah or with a Utah resident, and must renew registration yearly.
A check casher must post a complete fee schedule in a conspicuous place on its premises where customers cashing checks can see it.
Deferred deposit lenders must make disclosures, give the borrower a contract copy and extended-payment-plan notice, check ability to repay, report certain loan outcomes, allow small principal prepayments and next-business-day rescission, and follow limits on rollovers, collections, and default notice before suing.
If a deferred deposit lender collects payment electronically on a deferred deposit loan, it must on the day the loan is executed either credit the loan amount electronically to the borrower or make the amount immediately available.
Extended payment plan. If a person who owes money on a deferred deposit loan requests to enter into an extended payment plan, the deferred deposit lender who extended the deferred deposit loan shall allow the person to enter into an
The department may receive complaints, seek voluntary compliance, start enforcement proceedings, counsel persons and groups, make rules, and hire staff, subject to the Administrative Procedures Act and rulemaking requirements.
Examination of books, accounts, and records by the department. At least annually the department shall, for each person registered under this chapter and engaging in the business of cashing checks or the business of deferred deposit
The commissioner must report annually to the governor and Legislature on deferred deposit lenders’ operations in the state, using aggregate information.
A person who violates this chapter or files materially false information with a registration or renewal under Section 7-23-201 is guilty of a class B misdemeanor, except for specified violations, and the person’s registration is subject to revocation.
Title. This chapter is known as the "Title Lending Registration Act."
This section defines key terms used in the chapter, including “nationwide database,” “rollover,” “title lender,” and “title loan.”
Registration -- Rulemaking. It is unlawful for a person to extend a title loan in Utah or with a Utah resident unless the person: registers with the department in accordance with this chapter; and maintains a valid registration. It is
Operational requirements for title loans. A title lender shall: post in a conspicuous location on its premises that can be viewed by a person seeking a title loan: a complete schedule of any interest or fees charged for a title loan that
The department must adopt a title-loan disclosure form and set by rule what it must say, its type size, and how a title lender must conspicuously provide it to a person seeking a title loan.
Remedy for default. Except in the event of fraud by a borrower, if a borrower defaults on a title loan: the title lender's sole remedy is to seek repossession and sale of the property securing the title loan; the title lender may not
The department may receive complaints, seek voluntary compliance, start administrative or judicial enforcement proceedings, counsel persons and groups, make rules on lending or servicing practices and disclosure, and hire needed staff and agents, subject to the Administrative Procedures Act.
The department may examine a title lender’s books, accounts, and records and may investigate compliance with this chapter. A title lender must pay the examination fee under Section 7-1-401.
Violations of this chapter, or filing materially false registration or renewal information, can be a class B misdemeanor and can also lead to registration revocation; the department may impose additional enforcement actions for title-loan violations.
This section says the chapter does not limit any civil liability that may exist against a title lender.
Some depository institutions, depository institution holding companies, and institutions they directly or indirectly own or control are exempt from this chapter’s requirements.
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