70C-1-102. Purposes -- Rules of construction.
102 words·~1 min read·
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70C-1-102. Purposes -- Rules of construction.
(1)This title shall be liberally construed and applied to promote its underlying purposes and policies.
(2)The underlying purposes and policies of this title are:
(a)to further consumer understanding of the terms of credit transactions and to foster competition among suppliers of consumer credit so that consumers may obtain credit at reasonable cost;
(b)to prohibit certain unfair practices; and
(c)to avoid the duplication of laws and regulations pertaining to consumer credit between state and federal authorities and to supplement applicable federal laws and regulations.
Enacted by Chapter 159 , 1985 General Session