Utah § 70C-6-301 Property insurance.

Utah Statutes

§ 70C-6-301 — Property insurance.

Utah § 70C-6-301

Title 70CUtah Consumer Credit Code

Ch. 70C-6Insurance

Part 70C-6-3Property and Liability Insurance

This text of Utah § 70C-6-301 (Property insurance.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 70C-6-301 (2026).

Text

(1)A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property related to the credit transaction unless:

(1)(a) the insurance covers a significant risk of loss of or damage to the property;

(1)(b) the amount, terms, and conditions of the insurance are reasonable in relation to the character and value of the property insured or to be insured; and

(1)(c) the term of the insurance is reasonable in relation to the terms of credit.

(2)The term of insurance is reasonable if it is customary and does not extend substantially beyond a scheduled maturity.

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(1) A creditor may not contract for or receive a separate charge for insurance against loss of or damage to property related to the credit transaction unless:

(1)(a) the insurance covers a significant risk of loss of or damage to the property;
(1)(b) the amount, terms, and conditions of the insurance are reasonable in relation to the character and value of the property insured or to be insured; and
(1)(c) the term of the insurance is reasonable in relation to the terms of credit.
(2) The term of insurance is reasonable if it is customary and does not extend substantially beyond a scheduled maturity.