Section 7-23-402 - Electronic disbursement and collectionsIf a deferred deposit lender collects payment on a deferred deposit loan through an electronic payment, the deferred deposit lender shall, on the day the loan is executed:
(1) credit the amount of the deferred deposit loan through an electronic payment to the person receiving the deferred deposit loan; or(2) make the amount of the deferred deposit loan immediately available to the person receiving the deferred deposit loan.Renumbered and Amended by Chapter 96, 2008 General Session.