Utah Statutes
§ 70C-6-301 — Property insurance.
Utah·Title 70C Utah Consumer Credit Code·Ch. 70C-6 Insurance·Part 70C-6-3 Property and Liability Insurance
(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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Utah § 70C-6-301 (Property insurance.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 159, 1985 General Session
Nearby Sections
15
§ 70C-1-101
Short title.§ 70C-1-102
Purposes -- Rules of construction.§ 70C-1-104
Construction against implied repeal.§ 70C-1-105
Limitations by other laws not displaced.§ 70C-1-106
Determination of interest rate.§ 70C-1-201
Covered transactions.§ 70C-1-202
Exempted transactions.§ 70C-1-301
Interpretation consistent with federal law.§ 70C-1-302
Definitions.§ 70C-2-101
Finance and other charges.§ 70C-2-102
Delinquency charges.§ 70C-2-103
Deferral charges.§ 70C-2-104
Advances to perform covenants of buyer.