2006 Utah Code - 7-24-102 — Definitions.

     7-24-102.   Definitions.
     As used in this chapter:
     (1) "Rollover" means the extension or renewal of the term of a title loan.
     (2) (a) "Title lender" means a person that extends a title loan.
     (b) "Title lender" includes a person that:
     (i) arranges a title loan on behalf of a title lender;
     (ii) acts as an agent for a title lender; or
     (iii) assists a title lender in the extension of a title loan.
     (3) (a) "Title loan" means a loan secured by the title to a:
     (i) motor vehicle, as defined in Section 41-6a-102;
     (ii) mobile home, as defined in Section 41-6a-102; or
     (iii) motorboat, as defined in Section 73-18-2.
     (b) "Title loan" includes a title loan extended at the same premise on which any of the following are sold:
     (i) a motor vehicle, as defined in Section 41-6a-102;
     (ii) a mobile home, as defined in Section 41-6a-102; or
     (iii) a motorboat, as defined in Section 73-18-2.
     (c) "Title loan" does not include:
     (i) a purchase money loan;
     (ii) a loan made in connection with the sale of a:
     (A) motor vehicle, as defined in Section 41-6a-102;
     (B) mobile home, as defined in Section 41-6a-102; or
     (C) motorboat, as defined in Section 73-18-2; or
     (iii) a loan extended by an institution listed in Section 7-24-305.

Amended by Chapter 2, 2005 General Session

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