7-24-203. Disclosure form for title loans.

126 words·~1 min read·/ut/title-7/chapter-24/7-24-203

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act , the department shall adopt a disclosure form for title loans that complies with this section.

(2)The department shall specify by rule:

(a)the information to be provided in the disclosure form including:

(i)the costs of obtaining a title loan;

(ii)the consequences of defaulting on a title loan;

(iii)generally available alternatives to a title loan; and

(iv)methods of obtaining credit counseling or other financial advice;

(b)the type size of the disclosure form; and

(c)the manner in which a title lender shall conspicuously provide the disclosure form to a person seeking a title loan.

Amended by Chapter 382 , 2008 General Session