(l) | any form of business entity. See Utah Code 7-1-103Title lender: includes a person that:(i) | arranges a title loan on behalf of a title lender; |
(ii) | acts as an agent for a title lender; or |
(iii) | assists a title lender in the extension of a title loan. See Utah Code 7-24-102Title loan: includes a title loan extended at the same premise on which any of the following are sold:(i) | a motor vehicle, as defined in Section 41-6a-102; |
(ii) | a mobile home, as defined in Section 41-6a-102; or |
(iii) | a motorboat, as defined in Section 73-18-2. See Utah Code 7-24-102 |
(2) |
The department shall specify by rule:
(a) |
the information to be provided in the disclosure form including:
(i) |
the costs of obtaining a title loan; |
(ii) |
the consequences of defaulting on a title loan; |
(iii) |
generally available alternatives to a title loan; and |
(iv) |
methods of obtaining credit counseling or other financial advice; |
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(b) |
the type size of the disclosure form; and |
(c) |
the manner in which a title lender shall conspicuously provide the disclosure form to a person seeking a title loan. |
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Amended by Chapter 382, 2008 General Session
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