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(1) a name lender shall:

(a) post in a conspicuous location on its premises which can be seen by someone looking for a name loan:

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

(A) as dollar quantities; and

(B) as yearly portion prices; and

(ii) a phone number a individual may call to produce a grievance to your division regarding a title loan;

(b) get into a written agreement for the name loan containing:

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

(ii) the deal date;

(iii) the amount of the name loan;

(iv) a statement associated with total level of any interest or costs that could 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 associated with the designated representative needed to be supplied the division under Subsection 7-24-201(2 d that is)(; and

(B) a declaration that solution of procedure might be built to the designated agent;

(c) give you the person looking for the title loan a copy of this written contract described in Subsection (1)(b);

(d) before the execution associated with name loan:

(i) orally review because of the individual seeking the title loan the terms regarding the name loan including:

(A) the actual quantity of any interest or charge, expressed as:

(we) a buck quantity; and

(II) a percentage that is annual; and

(B) the date on that the complete number of the name loan flow from; and

(ii) supply the individual looking for the title loan a copy for the disclosure kind used by the division under area 7-24-203 ; and

( ag ag ag ag e) adhere to the next as with influence on the date the name loan is extended:

(i) Truth in Lending Act, 15 U.S.C. Sec. 1601 et seq., as well as its implementing regulations that are federal

(ii) Equal Credit Chance Act, 15 U.S.C. Sec. 1691 , and its particular implementing regulations that are federal

(iii) Bank Secrecy Act, 12 U.S.C. Sec. 1829b , 12 U.S.C. Sec. 1951 through 1959 , and 31 U.S.C. Sec. 5311 through 5332 , as well as its regulations that are implementing and

(iv) Title 70C, Utah Credit Rating Code.

(2) If a name loan provider stretches a name loan over the internet or other electronic means, the name lender shall:

(a) give you the information described in Subsection (1)(a) to the individual getting the name loan:

(i) in a conspicuous way; and

(ii) ahead of the person getting into the name loan; and

(b) relating to the disclosure needed under Subsection (2)(a), offer a set of states in which the name loan provider is registered or authorized to supply name loans through the world wide web or any other means that are electronic.

(3) a name loan provider might not:

(a) rollover a name loan unless the individual getting the name loan needs a rollover of this name loan;

(b) increase one or more title loan on any automobile in the past;

(c) increase a name loan that surpasses the reasonable market value for the automobile securing the name loan; or

(d) stretch a name loan without regard to the power of the individual searching for the name loan to settle the name loan, such as the man or woman’s:

(i) current and expected earnings;

(ii) present responsibilities; and

(4) a name loan provider has met certain requirements of Subsection (3 d that is)( if the individual looking for a name loan supplies the name loan provider with a finalized acknowledgment that:

(a) anyone has supplied the name loan provider with real and proper information concerning the individual’s earnings, responsibilities, and work; and

(b) the individual is able to repay the title loan.

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