Terms Used In Utah Code 70C-6-304

• Creditor: means :

  (i)

  a party: (A)  who regularly extends consumer credit that is subject to a finance charge or is payable by written agreement in more than four installments, not including a down payment; and (B)  to whom the obligation is initially payable, either on the face of the note or contract, or by agreement when there is no note or contract;

  (ii)	an issuer of a credit card that extends either open-end credit or credit that: (A)  is not subject to a finance charge; and (B)  is not payable by written agreement in more than four installments; and

  (iii)

  an issuer of a credit card that extends closed-end credit that: (A)  is subject to a finance charge; or (B)  is payable by written agreement in more than four installments. See Utah Code 70C-1-302 Property: includes both real and personal property. See Utah Code 68-3-12.5 State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5      A creditor may not request cancellation of a policy of property or liability insurance except after the debtor’s default or in accordance with a written authorization by the debtor, and in either case the cancellation does not take effect until written notice is delivered to the debtor or mailed to him at his address as stated by him. The notice shall state that the policy may be cancelled on a date not less than 10 days after the notice is delivered, or, if the notice is mailed, not less than 13 days after it is mailed. Enacted by Chapter 159, 1985 General Session   Previous section Next section    Part 3 Contents