Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“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”
Use this record to locate individual provisions, understand the instrument’s recorded structure, and move from a research summary to the exact source text.
02
How the instrument operates
- 01
Start with the recorded version
Enacted 2003. The date shown identifies this source expression and should not be treated as proof that no later change exists.
- 02
Locate the controlling provision
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- 03
Read conditions and exceptions together
Keep subsections, definitions, provisos and cross-references in context before drawing a legal conclusion.
- 04
Verify currency and official wording
Confirm later legislation, commencement notices and corrections with the official publisher before advice, filing or reliance.
03
Research entry points
Selected provisions across the instrument. Open any row to continue with the exact stored text.
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
Section 7-24-204
The title lender’s only remedy is to seek repossession and sale of the property securing the title loan.
Section 7-24-204(1)
repayment of the loan; or
Section 7-24-204(2)(a)
any deficiency after repossession and sale of the property securing the loan; and
Section 7-24-204(2)(b)
After repossession and sale of the property securing a title loan, the title lender must return to the borrower any sale proceeds above the amount owed.
Section 7-24-204(3)
04
Source and current-law status
In force source record
Source record from le.utah.gov · Enacted 2003
This source records the instrument as in force. Confirm subsequent amendments, commencement notices, and judicial treatment before relying on it.