Utah § 13-64-201 Vehicle value protection agreement -- Required disclosures -- Finance agreement conditions.

Utah Statutes

§ 13-64-201 — Vehicle value protection agreement -- Required disclosures -- Finance agreement conditions.

Utah·Title 13 Commerce and Trade·Ch. 13-64 Vehicle Value Protection Agreement Act·Part 13-64-2 Vehicle Value Protection Agreements

(1)A person may not issue, sell, offer to sell, or otherwise provide a vehicle value protection agreement that does not comply with this chapter.

(2)A vehicle value protection agreement shall conspicuously disclose:

(2)(a) the name, address, and contact information of:

(2)(a)(i) the provider;

(2)(a)(ii) the agreement administrator, if any; and

(2)(a)(iii) the purchaser;

(2)(b) the terms of the vehicle value protection agreement, including:

(2)(b)(i) the charges under the vehicle value protection agreement;

(2)(b)(ii) the benefit eligibility requirements;

(2)(b)(iii) the conditions imposed by the vehicle value protection agreement; and

(2)(b)(iv) the procedure a purchaser is required to follow to obtain the benefit; and

(2)(c) subject to Subsection (3), the terms or restrictions governin

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(1) A person may not issue, sell, offer to sell, or otherwise provide a vehicle value protection agreement that does not comply with this chapter.
(2) A vehicle value protection agreement shall conspicuously disclose:

(2)(a) the name, address, and contact information of:
(2)(a)(i) the provider;
(2)(a)(ii) the agreement administrator, if any; and
(2)(a)(iii) the purchaser;
(2)(b) the terms of the vehicle value protection agreement, including:
(2)(b)(i) the charges under the vehicle value protection agreement;
(2)(b)(ii) the benefit eligibility requirements;
(2)(b)(iii) the conditions imposed by the vehicle value protection agreement; and
(2)(b)(iv) the procedure a purchaser is required to follow to obtain the benefit; and
(2)(c) subject to Subsection (3), the terms or restrictions governing cancellation of the vehicle value protection agreement, including:
(2)(c)(i) that the purchaser may cancel the vehicle value protection agreement during the preliminary period;
(2)(c)(ii) the length of the preliminary period;
(2)(c)(iii) the purchaser's right to a refund for cancellation under Section 13-64-203; and
(2)(c)(iv) the methodology for calculating any refund to the purchaser for cancellation.
(3) The disclosure described in Subsection (2)(c)(i) shall:

(3)(a) be written in dark bold with at least 12-point type on the first page of the vehicle value protection agreement; and
(3)(b) read as follows: "IN ACCORDANCE WITH UTAH CODE SECTION 13-64-203, YOU, THE PURCHASER, MAY CANCEL THIS AGREEMENT AT ANY TIME BEFORE THE END OF THE PRELIMINARY PERIOD DESCRIBED IN THIS AGREEMENT."
(4) The provider shall provide the purchaser a copy of the vehicle value protection agreement at the time the provider and purchaser enter into the vehicle value protection agreement.
(5) A finance agreement or vehicle purchase agreement may not be conditioned on a purchaser entering into a vehicle value protection agreement.

Utah § 13-64-201 (Vehicle value protection agreement -- Required disclosures -- Finance agreement conditions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.