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(1) a name lender shall:
(a) post in a conspicuous location on its premises that may be seen by an individual looking for a name loan:
(i) a schedule that is complete of interest or costs charged for a name loan that states the attention and costs:
(A) as buck quantities; and
(B) as yearly portion prices; and
(ii) a phone number a individual may phone which will make a problem towards the division regarding a name loan;
(b) come right into a written agreement when it comes to name loan containing:
(i) the title of the individual getting the name loan;
(ii) the transaction date;
(iii) the total amount of the name loan;
(iv) a statement associated with the amount that is total of interest or costs which may be charged for the name loan, expressed as:
(A) a buck quantity; and
(B) a apr; 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 could be meant to the designated agent;
(c) offer the individual looking for the title loan a copy associated with the written agreement described in Subsection (1)(b);
(d) best title loan rates Georgia ahead of the execution of this name loan:
(i) orally review because of the individual searching for the title loan the terms for the name loan including:
(A) the actual quantity of any interest rate or charge, expressed as:
(we) a buck quantity; and
(II) a apr; and
(B) the date on that the complete level of the name loan flow from; and
(ii) supply the individual looking for the title loan a copy of this disclosure type used by the division under part 7-24-203 ; and
( ag ag e) adhere to the next like in 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 federal laws;
(ii) Equal Credit Opportunity Act, 15 U.S.C. Sec. 1691 , and its own implementing federal laws;
(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 implementing laws; and
(iv) Title 70C, Utah Credit Rating Code.
(2) If a name loan provider stretches a name loan over the internet or any other electronic means, the name lender shall:
(a) give you the information described in Subsection (1)(a) in to the individual getting the name loan:
(i) in a conspicuous way; and
(ii) ahead of the person stepping into the name loan; and
(b) associated with the disclosure needed under Subsection (2)(a), offer a variety of states where in actuality the name loan provider is registered or authorized to provide name loans over the internet or other electronic means.
(3) a name loan provider may well not:
(a) rollover a name loan unless the individual getting the name loan needs a rollover of this name loan;
(b) stretch multiple name loan on any car in the past;
(c) increase a name loan that surpasses the reasonable market value of this automobile securing the name loan; or
(d) stretch a name loan without reference to the capability of the individual searching for the name loan to settle the title loan, like the individuals:
(i) current and expected earnings;
(ii) present responsibilities; and
(4) a name loan provider has met certain requirements of Subsection (3)(d) if the individual searching for a title loan gives the name loan provider with a finalized acknowledgment that:
(a) the individual has furnished the name loan provider with real and information that is correct the individual’s earnings, responsibilities, and work; and
(b) the individual has the capacity to repay the name loan.
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