State Codes and Statutes

Statutes > Utah > Title-07 > Chapter-23 > 7-23-402

7-23-402. Electronic disbursement and collections.
If a deferred deposit lender collects payment on a deferred deposit loan through anelectronic payment, the deferred deposit lender shall, on the day the loan is executed:
(1) credit the amount of the deferred deposit loan through an electronic payment to theperson receiving the deferred deposit loan; or
(2) make the amount of the deferred deposit loan immediately available to the personreceiving the deferred deposit loan.

Renumbered and Amended by Chapter 96, 2008 General Session