United States — Utah Act or statute

United States — Utah legislation

Utah Code § 7-24-102

This section defines key terms used in the chapter, including “nationwide database,” “rollover,” “title lender,” and “title loan.”

definitionsloan classificationloan exclusionsmobile homesmortgage licensingmotor vehiclesmotorboatssecured lendingtitle loansvehicle regulationvehicle sales

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“This section defines key terms used in the chapter, including “nationwide database,” “rollover,” “title lender,” and “title loan.””

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Definitions.

This section defines key terms used in the chapter, including “nationwide database,” “rollover,” “title lender,” and “title loan.”

Section 7-24-102

Subsection 7-24-102(4)(a)(iii)

This provision uses the term “motorboat” and refers to its definition in Section 73-18-2.

Section 7-24-102(4)(a)(iii)

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Showing 26 of 26 provisions

Provision 24Interpretation 2

Part 7-24-1

part 7-24-1 General Provisions

§ 7-24-102Definitions.Interpretation

This section defines key terms used in the chapter, including “nationwide database,” “rollover,” “title lender,” and “title loan.”

Definitions. As used in this chapter: "Nationwide database" means the Nationwide Mortgage Licensing System and Registry, authorized under 12 U.S.C. Sec. 5101 for federal licensing of mortgage loan originators. "Rollover" means the extension or renewal of the term of a title loan. "Title lender" means a person that extends a title loan. "Title lender" includes a person that: arranges a title loan on behalf of a title lender; acts as an agent for a title lender; or assists a title lender in the extension of a title loan. "Title loan" means a loan secured by the title to a: motor vehicle, as defined in Section 41-6a-102 ; mobile home, as defined in Section 41-6a-102 ; or motorboat, as defined in Section 73-18-2 . "Title loan" includes a title loan extended at the same premise on which any of the following are sold: a motor vehicle, as defined in Section 41-6a-102 ; a mobile home, as defined in Section 41-6a-102 ; or a motorboat, as defined in Section 73-18-2 . "Title loan" does not include: a purchase money loan; a loan made in connection with the sale of a: motor vehicle, as defined in Section 41-6a-102 ; mobile home, as defined in Section 41-6a-102 ; or motorboat, as defined in Section 73-18-2 ; a loan extended by an institution listed in Section 7-24-305 ; or a loan with a repayment term that is longer than 364 days.
Section 7-24-102Verify source
§ 7-24-102(1)Subsection 7-24-102(1)Provision

"Nationwide database" means the Nationwide Mortgage Licensing System and Registry.

"Nationwide database" means the Nationwide Mortgage Licensing System and Registry, authorized under 12 U.S.C. Sec. 5101 for federal licensing of mortgage loan originators.
Section 7-24-102(1)Verify source
§ 7-24-102(2)Subsection 7-24-102(2)Provision

“Rollover” means extending or renewing the term of a title loan.

"Rollover" means the extension or renewal of the term of a title loan.
Section 7-24-102(2)Verify source
§ 7-24-102(3)Subsection 7-24-102(3)Provision

Defines “title lender” as a person that extends a title loan, and also includes certain persons who arrange, act as agents for, or assist a title lender in extending a title loan.

"Title lender" means a person that extends a title loan. "Title lender" includes a person that: arranges a title loan on behalf of a title lender; acts as an agent for a title lender; or assists a title lender in the extension of a title loan.
Section 7-24-102(3)Verify source
§ 7-24-102(3)(a)Subsection 7-24-102(3)(a)Provision

“Title lender” means a person that extends a title loan.

"Title lender" means a person that extends a title loan.
Section 7-24-102(3)(a)Verify source
§ 7-24-102(3)(b)Subsection 7-24-102(3)(b)Provision

"Title lender" includes a person that: arranges a title loan on behalf of a title lender; acts as an agent for a title lender; or assists a title lender in the extension of a title loan.

"Title lender" includes a person that: arranges a title loan on behalf of a title lender; acts as an agent for a title lender; or assists a title lender in the extension of a title loan.
Section 7-24-102(3)(b)Verify source
§ 7-24-102(3)(b)(i)Subsection 7-24-102(3)(b)(i)Provision

arranges a title loan on behalf of a title lender;

arranges a title loan on behalf of a title lender;
Section 7-24-102(3)(b)(i)Verify source
§ 7-24-102(3)(b)(ii)Subsection 7-24-102(3)(b)(ii)Provision

acts as an agent for a title lender; or

acts as an agent for a title lender; or
Section 7-24-102(3)(b)(ii)Verify source
§ 7-24-102(3)(b)(iii)Subsection 7-24-102(3)(b)(iii)Provision

assists a title lender in the extension of a title loan.

assists a title lender in the extension of a title loan.
Section 7-24-102(3)(b)(iii)Verify source
§ 7-24-102(4)Subsection 7-24-102(4)Provision

"Title loan" means a loan secured by the title to a motor vehicle, mobile home, or motorboat, and it excludes certain loans and loans with repayment terms longer than 364 days.

"Title loan" means a loan secured by the title to a: motor vehicle, as defined in Section 41-6a-102 ; mobile home, as defined in Section 41-6a-102 ; or motorboat, as defined in Section 73-18-2 . "Title loan" includes a title loan extended at the same premise on which any of the following are sold: a motor vehicle, as defined in Section 41-6a-102 ; a mobile home, as defined in Section 41-6a-102 ; or a motorboat, as defined in Section 73-18-2 . "Title loan" does not include: a purchase money loan; a loan made in connection with the sale of a: motor vehicle, as defined in Section 41-6a-102 ; mobile home, as defined in Section 41-6a-102 ; or motorboat, as defined in Section 73-18-2 ; a loan extended by an institution listed in Section 7-24-305 ; or a loan with a repayment term that is longer than 364 days.
Section 7-24-102(4)Verify source
§ 7-24-102(4)(a)Subsection 7-24-102(4)(a)Provision

"Title loan" means a loan secured by the title to a motor vehicle, mobile home, or motorboat.

"Title loan" means a loan secured by the title to a: motor vehicle, as defined in Section 41-6a-102 ; mobile home, as defined in Section 41-6a-102 ; or motorboat, as defined in Section 73-18-2 .
Section 7-24-102(4)(a)Verify source
§ 7-24-102(4)(a)(i)Subsection 7-24-102(4)(a)(i)Provision

This text refers to a “motor vehicle” as defined in Section 41-6a-102.

motor vehicle, as defined in Section 41-6a-102 ;
Section 7-24-102(4)(a)(i)Verify source
§ 7-24-102(4)(a)(ii)Subsection 7-24-102(4)(a)(ii)Provision

Refers to a “mobile home” as defined in Section 41-6a-102.

mobile home, as defined in Section 41-6a-102 ; or
Section 7-24-102(4)(a)(ii)Verify source
§ 7-24-102(4)(a)(iii)Subsection 7-24-102(4)(a)(iii)Interpretation

This provision uses the term “motorboat” and refers to its definition in Section 73-18-2.

motorboat, as defined in Section 73-18-2 .
Section 7-24-102(4)(a)(iii)Verify source
§ 7-24-102(4)(b)Subsection 7-24-102(4)(b)Provision

"Title loan" includes a title loan made at the same premise where a motor vehicle, mobile home, or motorboat is sold.

"Title loan" includes a title loan extended at the same premise on which any of the following are sold: a motor vehicle, as defined in Section 41-6a-102 ; a mobile home, as defined in Section 41-6a-102 ; or a motorboat, as defined in Section 73-18-2 .
Section 7-24-102(4)(b)Verify source
§ 7-24-102(4)(b)(i)Subsection 7-24-102(4)(b)(i)Provision

A motor vehicle, as defined in Section 41-6a-102.

a motor vehicle, as defined in Section 41-6a-102 ;
Section 7-24-102(4)(b)(i)Verify source
§ 7-24-102(4)(b)(ii)Subsection 7-24-102(4)(b)(ii)Provision

a mobile home, as defined in Section 41-6a-102 ; or

a mobile home, as defined in Section 41-6a-102 ; or
Section 7-24-102(4)(b)(ii)Verify source
§ 7-24-102(4)(b)(iii)Subsection 7-24-102(4)(b)(iii)Provision

Refers to a motorboat as defined in Section 73-18-2.

a motorboat, as defined in Section 73-18-2 .
Section 7-24-102(4)(b)(iii)Verify source
§ 7-24-102(4)(c)Subsection 7-24-102(4)(c)Provision

A loan is not a “title loan” if it is a purchase money loan, a loan tied to the sale of a motor vehicle, mobile home, or motorboat, a loan from an institution listed in Section 7-24-305, or a loan with a repayment term longer than 364 days.

"Title loan" does not include: a purchase money loan; a loan made in connection with the sale of a: motor vehicle, as defined in Section 41-6a-102 ; mobile home, as defined in Section 41-6a-102 ; or motorboat, as defined in Section 73-18-2 ; a loan extended by an institution listed in Section 7-24-305 ; or a loan with a repayment term that is longer than 364 days.
Section 7-24-102(4)(c)Verify source
§ 7-24-102(4)(c)(i)Subsection 7-24-102(4)(c)(i)Provision

a purchase money loan;

a purchase money loan;
Section 7-24-102(4)(c)(i)Verify source
§ 7-24-102(4)(c)(ii)Subsection 7-24-102(4)(c)(ii)Provision

This provision refers to a loan made in connection with the sale of a motor vehicle, mobile home, or motorboat.

a loan made in connection with the sale of a: motor vehicle, as defined in Section 41-6a-102 ; mobile home, as defined in Section 41-6a-102 ; or motorboat, as defined in Section 73-18-2 ;
Section 7-24-102(4)(c)(ii)Verify source
§ 7-24-102(4)(c)(ii)(A)Subsection 7-24-102(4)(c)(ii)(A)Provision

"motor vehicle" is defined by reference to Section 41-6a-102.

motor vehicle, as defined in Section 41-6a-102 ;
Section 7-24-102(4)(c)(ii)(A)Verify source
§ 7-24-102(4)(c)(ii)(B)Subsection 7-24-102(4)(c)(ii)(B)Provision

mobile home, as defined in Section 41-6a-102 ; or

mobile home, as defined in Section 41-6a-102 ; or
Section 7-24-102(4)(c)(ii)(B)Verify source
§ 7-24-102(4)(c)(ii)(C)Subsection 7-24-102(4)(c)(ii)(C)Provision

The term “motorboat” is used as defined in Section 73-18-2.

motorboat, as defined in Section 73-18-2 ;
Section 7-24-102(4)(c)(ii)(C)Verify source
§ 7-24-102(4)(c)(iii)Subsection 7-24-102(4)(c)(iii)Provision

a loan extended by an institution listed in Section 7-24-305 ; or

a loan extended by an institution listed in Section 7-24-305 ; or
Section 7-24-102(4)(c)(iii)Verify source
§ 7-24-102(4)(c)(iv)Subsection 7-24-102(4)(c)(iv)Provision

A loan is described as having a repayment term longer than 364 days.

a loan with a repayment term that is longer than 364 days.
Section 7-24-102(4)(c)(iv)Verify source

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