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Section 203 - Disclosure form for title loans.

UT Code § 7-24-203 (2019) (N/A)
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(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.

(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;

(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.

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