70C-2-201 - Authorization to confess judgment prohibited.
70C-2-201. Authorization to confess judgment prohibited.
A creditor or its successor in interest may not, directly or indirectly, take or receive from adebtor an obligation that constitutes or contains a cognovit or confession of judgment, warrant ofattorney, or other waiver of the right to notice and the opportunity to be heard in the event of suitor process thereon.
Enacted by Chapter 159, 1985 General Session