Terms Used In Utah Code > Title 70C > Chapter 3 - Closed-End Consumer Credit Debt

• Agreement: means the bargain of the parties in fact as stated in a written contract or otherwise as found in the parties' language or by implication from other circumstances, including:
       (1)(a) course of dealing;
       (1)(b) usage of trade; or
       (1)(c) course of performance. See Utah Code 70C-1-302
• Alcoholic product: includes an alcoholic beverage. See Utah Code 32B-1-102
• Beer: means a product that:
            (11)(a)(i) contains:

                 (11)(a)(i)(A) at least . See Utah Code 32B-1-102
• Container: means a receptacle that contains an alcoholic product, including:
       (25)(a) a bottle;
       (25)(b) a vessel; or
       (25)(c) a similar item. See Utah Code 32B-1-102
• Contract: A legal written agreement that becomes binding when signed.
• Contract: means a document containing written terms and conditions of a credit agreement. See Utah Code 70C-1-302
• Creditor: means :
            (4)(a)(i) a party:

                 (4)(a)(i)(A) who regularly extends consumer credit that is subject to a finance charge or is payable by written agreement in more than four installments, not including a down payment; and

                 (4)(a)(i)(B) to whom the obligation is initially payable, either on the face of the note or contract, or by agreement when there is no note or contract;
            (4)(a)(ii) an issuer of a credit card that extends either open-end credit or credit that:

                 (4)(a)(ii)(A) is not subject to a finance charge; and

                 (4)(a)(ii)(B) is not payable by written agreement in more than four installments; and
            (4)(a)(iii) an issuer of a credit card that extends closed-end credit that:

                 (4)(a)(iii)(A) is subject to a finance charge; or

                 (4)(a)(iii)(B) is payable by written agreement in more than four installments. See Utah Code 70C-1-302
• Dwelling: means a residential structure attached to real property that contains one to four units including any of the following if used as a residence:
       (5)(a) a condominium unit;
       (5)(b) a cooperative unit;
       (5)(c) a manufactured home; or
       (5)(d) a house. See Utah Code 70C-1-302
• Finance charge: The total cost of credit a customer must pay on a consumer loan, including interest. The Truth in Lending Act requires disclosure of the finance charge. ^{Source: OCC}
• Furnish: includes to:
            (47)(b)(i) serve;
            (47)(b)(ii) deliver; or
            (47)(b)(iii) otherwise make available. See Utah Code 32B-1-102
• Health care practitioner: means :
       (50)(a) a podiatrist licensed under Title 58, Chapter 5a, Podiatric Physician Licensing Act;
       (50)(b) an optometrist licensed under Title 58, Chapter 16a, Utah Optometry Practice Act;
       (50)(c) a pharmacist licensed under Title 58, Chapter 17b, Pharmacy Practice Act;
       (50)(d) a physical therapist licensed under Title 58, Chapter 24b, Physical Therapy Practice Act;
       (50)(e) a nurse or advanced practice registered nurse licensed under Title 58, Chapter 31b, Nurse Practice Act;
       (50)(f) a recreational therapist licensed under Title 58, Chapter 40, Recreational Therapy Practice Act;
       (50)(g) an occupational therapist licensed under Title 58, Chapter 42a, Occupational Therapy Practice Act;
       (50)(h) a nurse midwife licensed under Title 58, Chapter 44a, Nurse Midwife Practice Act;
       (50)(i) a mental health professional licensed under Title 58, Chapter 60, Mental Health Professional Practice Act;
       (50)(j) a physician licensed under Title 58, Chapter 67, Utah Medical Practice Act;
       (50)(k) an osteopath licensed under Title 58, Chapter 68, Utah Osteopathic Medical Practice Act;
       (50)(l) a dentist or dental hygienist licensed under Title 58, Chapter 69, Dentist and Dental Hygienist Practice Act; and
       (50)(m) a physician assistant licensed under Title 58, Chapter 70a, Utah Physician Assistant Act. See Utah Code 32B-1-102
• Heavy beer: means a product that:
            (51)(a)(i)

                 (51)(a)(i)(A) contains more than 5% alcohol by volume;

                 (51)(a)(i)(B) contains at least . See Utah Code 32B-1-102
• Installment: means a payment upon a debt that is part of a series of payments, each of which is less than the original amount of the debt and scheduled as to a specific amount and due date by agreement of the parties for the purpose of repaying the debt. See Utah Code 70C-1-302
• Interdicted person: means a person to whom the sale, offer for sale, or furnishing of an alcoholic product is prohibited by:
       (58)(a) law; or
       (58)(b) court order. See Utah Code 32B-1-102
• Licensee: means a person who holds a license. See Utah Code 32B-1-102
• Lien: A claim against real or personal property in satisfaction of a debt.
• Minor: means an individual under 21 years old. See Utah Code 32B-1-102
• offer for sale: means a transaction, exchange, or barter whereby, for consideration, an alcoholic product is either directly or indirectly transferred, solicited, ordered, delivered for value, or by a means or under a pretext is promised or obtained, whether done by a person as a principal, proprietor, or as staff, unless otherwise defined in this title or the rules made by the commission. See Utah Code 32B-1-102
• Person: means :
       (24)(a) an individual;
       (24)(b) an association;
       (24)(c) an institution;
       (24)(d) a corporation;
       (24)(e) a company;
       (24)(f) a trust;
       (24)(g) a limited liability company;
       (24)(h) a partnership;
       (24)(i) a political subdivision;
       (24)(j) a government office, department, division, bureau, or other body of government; and
       (24)(k) any other organization or entity. See Utah Code 68-3-12.5
• Prescription: means an order issued by a health care practitioner when:
       (92)(a) the health care practitioner is licensed under Title 58, Occupations and Professions, to prescribe a controlled substance, other drug, or device for medicinal purposes;
       (92)(b) the order is made in the course of that health care practitioner's professional practice; and
       (92)(c) the order is made for obtaining an alcoholic product for medicinal purposes only. See Utah Code 32B-1-102
• Right of rescission: Right to cancel, within three business days, a contract that uses the home of a person as collateral, except in the case of a first mortgage loan. There is no fee to the borrower, who receives a full refund of all fees paid. The right of rescission is guaranteed by the Truth in Lending Act (TILA). ^{Source: OCC}
• United States: includes each state, district, and territory of the United States of America. See Utah Code 68-3-12.5