Current through the 2024 Fourth Special Session
Section 7-24-203 - Disclosure form for title loans(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.