39-7-114 - Installment contracts.
39-7-114. Installment contracts.
(1) The creditor of a service member who, prior to entry into military service, has enteredinto an installment contract for the purchase of real or personal property may not terminate thecontract or repossess the property for nonpayment or any breach occurring during military servicewithout an order from a court of competent jurisdiction.
(2) The court, upon application to it under this section, may, unless the court finds on therecord that the ability of the service member to comply with the terms of the contract is notmaterially affected by reason of his military service:
(a) order repayment of any prior installments or deposits as a condition of terminating thecontract and resuming possession of the property;
(b) order a stay of the proceedings on its own motion, or on motion by the servicemember or another person on his behalf; or
(c) make any other disposition of the case it considers to be equitable to conserve theinterests of all parties.
(3) Any person who knowingly repossesses property which is the subject of this sectionother than as provided in Subsection (1) is guilty of a misdemeanor.
Enacted by Chapter 306, 1997 General Session