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Utah Code Title 7. Financial Institutions Act § 7-23-402. Electronic disbursement and collections

Current as of January 01, 2025 | Updated by Findlaw Staff

If a deferred deposit lender collects payment on a deferred deposit loan through an electronic 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 the person receiving the deferred deposit loan; or

(2) make the amount of the deferred deposit loan immediately available to the person receiving the deferred deposit loan.

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Cite this article: FindLaw.com - Utah Code Title 7. Financial Institutions Act § 7-23-402. Electronic disbursement and collections - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-7-financial-institutions-act/ut-code-sect-7-23-402/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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