Utah Admin. Code R590-91-3 - Definitions
Terms used in this rule are defined in Sections 31A-1-301 and 31A-22-802. Additional terms are defined as follows:
(1) "Credit insurance" means credit life
insurance and credit accident and health insurance.
(2) "Open-end credit" means credit extended
by a creditor under an agreement in which:
(a)
the creditor reasonably contemplates repeated transactions;
(b) the creditor imposes a finance charge
from time to time on an outstanding unpaid balance; and
(c) the credit available to the debtor is
self-replenishing as the debtor repays amounts previously drawn.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.