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United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-16a-203, 1997

Certain covered institutions may vary Uniform Commercial Code requirements by contract when those requirements conflict with ATM or point-of-sale operation, but they cannot contract away responsibility for bad faith or…

Source excerpt

automated teller machinescommercial agreementcommercial lawcontractual variationcontractual waiverdamages limitationelectronic transactionspaymentspoint-of-sale terminals
Jurisdiction
United States — Utah
Status
In force
Official identity
Year 1997
Dates
Enacted 1997
More statute details
Dates
Enacted 1997
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01

Purpose and legislative effect

“Certain covered institutions may vary Uniform Commercial Code requirements by contract when those requirements conflict with ATM or point-of-sale operation, but they cannot contract away responsibility for bad faith or lack of ordinary care.”

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02

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    Enacted 1997. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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03

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Contractual waiver of Uniform Commercial Code provisions.

Certain covered institutions may vary Uniform Commercial Code requirements by contract when those requirements conflict with ATM or point-of-sale operation, but they cannot contract away responsibility for bad faith or lack of ordinary care.

Section 7-16a-203

Subsection 7-16a-203(2)(b)

The commissioner makes a finding that the provision is unconscionable or contrary to the public interest.

Section 7-16a-203(2)(b)

04

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In force source record

Source record from le.utah.gov · Enacted 1997

In force

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Showing 16 of 16 provisions

Provision 16

Part 7-16a-2

part 7-16a-2 Authority, Powers, Contractual Waiver, and Notification Requirements

§ 7-16a-203Contractual waiver of Uniform Commercial Code provisions.Provision

Source excerpt

Certain covered institutions may vary Uniform Commercial Code requirements by contract when those requirements conflict with ATM or point-of-sale operation, but they cannot contract away responsibility for bad faith or lack of ordinary care.

Contractual waiver of Uniform Commercial Code provisions. Subject to Subsections (1)(b) and (2) , if the application of Title 70A, Uniform Commercial Code , is inconsistent with the operation of an automated teller machine, a point-of-sale terminal, or both, the requirements of Title 70A, Uniform Commercial Code , may be varied by contractual agreement of any: depository institution; switching facility; or clearinghouse as defined by Section 70A-4-104 . A contractual agreement under Subsection (1)(a) may not disclaim responsibility for or limit the measure of damages for a depository institution's, switching facility's, or clearing house's: lack of good faith; or failure to exercise ordinary care. Notwithstanding Subsection (1)(a) , the commissioner may, after notice and hearing, require rescission or modification of any provision of a contractual agreement permitted by Subsection (1)(a) if: that provision relates to the rights and obligations of: account holders of depository institutions; merchants; merchant customers; or others using or having access to automated teller machines, point-of-sale terminals, or both; and the commissioner finds the provision is unconscionable or contrary to the public interest.
Section 7-16a-203Verify source
§ 7-16a-203(1)Subsection 7-16a-203(1)Provision

Source excerpt

Certain institutions may vary the Uniform Commercial Code by contract when its application conflicts with an ATM or point-of-sale terminal, but the agreement cannot waive or limit damages for lack of good faith or failure to use ordinary care.

Subject to Subsections (1)(b) and (2) , if the application of Title 70A, Uniform Commercial Code , is inconsistent with the operation of an automated teller machine, a point-of-sale terminal, or both, the requirements of Title 70A, Uniform Commercial Code , may be varied by contractual agreement of any: depository institution; switching facility; or clearinghouse as defined by Section 70A-4-104 . A contractual agreement under Subsection (1)(a) may not disclaim responsibility for or limit the measure of damages for a depository institution's, switching facility's, or clearing house's: lack of good faith; or failure to exercise ordinary care.
Section 7-16a-203(1)Verify source
§ 7-16a-203(1)(a)Subsection 7-16a-203(1)(a)Provision

Source excerpt

Subject to Subsections (1)(b) and (2) , if the application of Title 70A, Uniform Commercial Code , is inconsistent with the operation of an automated teller machine, a point-of-sale terminal, or both, the requirements of Title 70A, Uniform

Subject to Subsections (1)(b) and (2) , if the application of Title 70A, Uniform Commercial Code , is inconsistent with the operation of an automated teller machine, a point-of-sale terminal, or both, the requirements of Title 70A, Uniform Commercial Code , may be varied by contractual agreement of any: depository institution; switching facility; or clearinghouse as defined by Section 70A-4-104 .
Section 7-16a-203(1)(a)Verify source
§ 7-16a-203(1)(a)(i)Subsection 7-16a-203(1)(a)(i)Provision

Source excerpt

depository institution;

depository institution;
Section 7-16a-203(1)(a)(i)Verify source
§ 7-16a-203(1)(a)(ii)Subsection 7-16a-203(1)(a)(ii)Provision

Source excerpt

switching facility; or

switching facility; or
Section 7-16a-203(1)(a)(ii)Verify source
§ 7-16a-203(1)(a)(iii)Subsection 7-16a-203(1)(a)(iii)Provision

Source excerpt

This text refers to a clearinghouse as defined by Section 70A-4-104.

clearinghouse as defined by Section 70A-4-104 .
Section 7-16a-203(1)(a)(iii)Verify source
§ 7-16a-203(1)(b)Subsection 7-16a-203(1)(b)Provision

Source excerpt

A contractual agreement under Subsection (1)(a) may not disclaim responsibility for or limit the measure of damages for a depository institution's, switching facility's, or clearing house's: lack of good faith; or failure to exercise

A contractual agreement under Subsection (1)(a) may not disclaim responsibility for or limit the measure of damages for a depository institution's, switching facility's, or clearing house's: lack of good faith; or failure to exercise ordinary care.
Section 7-16a-203(1)(b)Verify source
§ 7-16a-203(1)(b)(i)Subsection 7-16a-203(1)(b)(i)Provision

Source excerpt

lack of good faith; or

lack of good faith; or
Section 7-16a-203(1)(b)(i)Verify source
§ 7-16a-203(1)(b)(ii)Subsection 7-16a-203(1)(b)(ii)Provision

Source excerpt

failure to exercise ordinary care.

failure to exercise ordinary care.
Section 7-16a-203(1)(b)(ii)Verify source
§ 7-16a-203(2)Subsection 7-16a-203(2)Provision

Source excerpt

The commissioner may, after notice and hearing, require rescission or modification of a contractual provision if it concerns the rights and obligations of certain ATM or point-of-sale users and the commissioner finds it unconscionable or contrary to the public interest.

Notwithstanding Subsection (1)(a) , the commissioner may, after notice and hearing, require rescission or modification of any provision of a contractual agreement permitted by Subsection (1)(a) if: that provision relates to the rights and obligations of: account holders of depository institutions; merchants; merchant customers; or others using or having access to automated teller machines, point-of-sale terminals, or both; and the commissioner finds the provision is unconscionable or contrary to the public interest.
Section 7-16a-203(2)Verify source
§ 7-16a-203(2)(a)Subsection 7-16a-203(2)(a)Provision

Source excerpt

This provision identifies the classes of people covered by the related rights and obligations.

that provision relates to the rights and obligations of: account holders of depository institutions; merchants; merchant customers; or others using or having access to automated teller machines, point-of-sale terminals, or both; and
Section 7-16a-203(2)(a)Verify source
§ 7-16a-203(2)(a)(i)Subsection 7-16a-203(2)(a)(i)Provision

Source excerpt

Refers to account holders of depository institutions.

account holders of depository institutions;
Section 7-16a-203(2)(a)(i)Verify source
§ 7-16a-203(2)(a)(ii)Subsection 7-16a-203(2)(a)(ii)Provision

Source excerpt

merchants;

merchants;
Section 7-16a-203(2)(a)(ii)Verify source
§ 7-16a-203(2)(a)(iii)Subsection 7-16a-203(2)(a)(iii)Provision

Source excerpt

merchant customers; or

merchant customers; or
Section 7-16a-203(2)(a)(iii)Verify source
§ 7-16a-203(2)(a)(iv)Subsection 7-16a-203(2)(a)(iv)Provision

Source excerpt

Refers to others using or having access to automated teller machines, point-of-sale terminals, or both.

others using or having access to automated teller machines, point-of-sale terminals, or both; and
Section 7-16a-203(2)(a)(iv)Verify source
§ 7-16a-203(2)(b)Subsection 7-16a-203(2)(b)Provision

Source excerpt

The commissioner makes a finding that the provision is unconscionable or contrary to the public interest.

the commissioner finds the provision is unconscionable or contrary to the public interest.
Section 7-16a-203(2)(b)Verify source

Legislative relationships

1 referenced instrument

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T–Z

1 instrument

  • Uniform Commercial Code

    Section 7-16a-203

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  • Undated version · currentEnglish · In force

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