70C-1-102 - Purposes -- Rules of construction.
70C-1-102. Purposes -- Rules of construction.
(1) This title shall be liberally construed and applied to promote its underlying purposesand policies.
(2) The underlying purposes and policies of this title are:
(a) to further consumer understanding of the terms of credit transactions and to fostercompetition among suppliers of consumer credit so that consumers may obtain credit atreasonable cost;
(b) to prohibit certain unfair practices; and
(c) to avoid the duplication of laws and regulations pertaining to consumer credit betweenstate and federal authorities and to supplement applicable federal laws and regulations.
Enacted by Chapter 159, 1985 General Session