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Utah Code Title 7. Banking Institutions Act В§ 7-24-202. Operational demands for name loans

Utah Code Title 7. Banking Institutions Act В§ 7-24-202. Operational demands for name loans

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(1) a name lender shall:

(a) post in a location that is conspicuous its premises which can be seen by an individual seeking a name loan:

(i) a schedule that is complete of interest or costs charged for the name loan that states the attention and costs:

(A) as buck quantities; and

(B) as yearly portion prices; and

(ii) a cell phone number a individual may phone to help make a problem towards the division regarding a name loan;

(b) get into a written agreement when it comes to name loan containing:

(i) the title of the individual getting the name loan;

(ii) the deal date;

(iii) the quantity of the name loan;

(iv) a statement regarding the amount that is total of interest or costs which may be charged for the name loan, expressed as:

(A) a buck quantity; and

(B) a percentage that is annual; and

(v)(A) the title and target for the designated representative needed to be supplied the division under Subsection 7-24-201(2 d that is)(; and