7-24-203 - Disclosure form for title loans.
7-24-203. Disclosure form for title loans.
(1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, thedepartment 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 toa person seeking a title loan.
Amended by Chapter 382, 2008 General Session