Terms Used In Utah Code 13-21-5

• Buyer: means an individual who is solicited to purchase or who purchases the services of a credit services organization. See Utah Code 13-21-2
• Contract: A legal written agreement that becomes binding when signed.
• Credit services organization: means a person who represents that the person or an employee is a debt professional or credit counselor, or, with respect to the extension of credit by others, sells, provides, or performs, or represents that the person can or will sell, provide, or perform, in return for the payment of money or other valuable consideration any of the following services:

  (i)	improving a buyer's credit record, history, or rating;

  (ii)	providing advice, assistance, instruction, or instructional materials to a buyer with regard to Subsection (3)(a)(i); or

  (iii)

  debt reduction or debt management plans. See Utah Code 13-21-2 Writing: includes :Utah Code 68-3-12.5      Before the execution of a contract or agreement between the buyer and a credit services organization or before the receipt by the credit services organization of any money or other valuable consideration, whichever occurs first, the credit services organization shall provide the buyer with a statement in writing, containing all the information required by Section 13-21-6. The credit services organization shall maintain on file for a period of two years an exact copy of the statement, personally signed by the buyer, acknowledging receipt of a copy of the statement. Enacted by Chapter 29, 1985 General Session   Previous section Next section    Chapter 21 Contents