Current through Bulletin 2024-23, December 1, 2024
Section R64-5-5 - Loan Administration and Repayment(1) An interrupted user shall repay the loan issued under this rule within 30 days of the day they are paid in full by a preferential user.(2) If the department determines that a borrower fails to repay a loan in accordance with this rule, the department may bring suit in a court of competent jurisdiction to require repayment of the loan by the preferential user or interrupted user.(3) If the department prevails in an action brought under Subsection R64-5-4(2) the department may recover amounts owed, court costs, and reasonable attorney fees.(4) The commission may delegate responsibilities under this rule to a commission appointed advisory board pursuant to Subsection 4-18-106(7).Adopted by Utah State Bulletin Number 2024-04, effective 2/5/2024