Utah Code Title 7. Finance Institutions Act В§ 7-24-202. Operational needs for name loans

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(1) a name lender shall:

(a) post in a location that is conspicuous its premises which can be viewed by an individual looking for a name loan:

(i) a schedule that is complete of interest or charges charged for the name loan that states the attention and costs:

(A) as buck quantities; and

(B) as yearly portion prices; and

(ii) a cell phone number an individual may phone to help make a problem towards the division regarding a name loan;

(b) come right into a written agreement when it comes to name loan containing:

(i) the title of the individual getting the name loan;

(ii) the deal date;

(iii) the amount of the name loan;

(iv) a statement associated with the amount that is total of interest or charges that could be charged when it comes to name loan, expressed as:

(A) a buck quantity; and

(B) a apr; and

(v)(A) the title and target associated with designated representative needed to be supplied the division under Subsection 7-24-201(2 d that is)(; and

(B) a declaration that solution of procedure might be designed to the designated representative;

(c) offer the individual searching for the title loan a copy regarding the written agreement described in Subsection (1)(b);

(d) ahead of the execution of this name loan:

(i) orally review utilizing the person searching for the title loan the terms associated with name loan including:

(A) the quantity of any rate of interest or charge, expressed as:

(we) a buck quantity; and

(II) a percentage that is annual; and

(B) the date by that the complete level of the name loan is born; and

(ii) give you the individual looking for the title loan a copy of this disclosure type used by the division under area 7-24-203 ; and

( ag ag ag e) adhere to the next like in impact on the date the name loan is extended:

(i) Truth in Lending Act, 15 U.S.C. Sec. 1601 et seq., and its particular implementing federal laws;

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