76-6-520.  Criminal usury.

(1)  Terms defined in Section 76-1-101.5 apply to this section.

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Terms Used In Utah Code 76-6-520

  • Actor: means a person whose criminal responsibility is in issue in a criminal action. See Utah Code 76-1-101.5
  • Property: includes both real and personal property. See Utah Code 68-3-12.5
  • Usury: Charging an illegally high interest rate on a loan. Source: OCC
(2)  An actor commits criminal usury if the actor knowingly engages in, or directly or indirectly provides financing for, the business of making loans at a higher rate of interest or consideration therefor than is authorized by law.

(3)  A violation of Subsection (2) is a third degree felony.

(4)  This section may not be construed to impose criminal or civil liability on any law enforcement officer acting within the scope of a criminal investigation.

(5)  The forfeiture of property under this section, including any seizure and disposition of the property and any related judicial or administrative proceeding, shall be conducted in accordance with Title 77, Chapter 11a, Seizure of Property and Contraband, through Chapter 11c, Retention of Evidence.

Amended by Chapter 111, 2023 General Session