§ 18 — Model disclosure forms and clauses

Section 18. The use of model disclosure forms and clauses for common transactions to facilitate compliance with the disclosure requirements and to aid and assist the borrower in understanding the transaction by utilizing readily understandable language to simplify the technical nature of the disclosures, issued by the bureau, shall be deemed to be in compliance with the provisions of this chapter. Nothing in this section may be construed to require a creditor to use any such model form or clause. A creditor shall be deemed to be in compliance with the disclosure provisions of this chapter with respect to other than numerical disclosures if the creditor (1) uses any appropriate model form or clause as published by the bureau, or (2) uses any such model form or clause and changes it by (A) deleting any information that is not required by this chapter, or (B) rearranging the format, if in making such deletion or rearranging the format, the creditor does not affect the substance, clarity or meaningful sequence of the disclosure.