Utah Code 70C-8-202. Notification
Current as of: 2024 | Check for updates
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Other versions
(1)
For details, see Utah Code § 76-3-204
Attorney's Note
Under the Utah Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| class B misdemeanor | up to 6 months | up to $1,000 |
Terms Used In Utah Code 70C-8-202
- Commissioner: means the commissioner of financial institutions appointed under Section
7-1-202 . See Utah Code 70C-1-302 - department: means the Department of Financial Institutions. See Utah Code 70C-8-101
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Nationwide database: means the Nationwide Multistate Licensing System and Registry, described in Utah Code 70C-1-302
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Party: means an individual and any other entity legally capable of entering into a binding contract. See Utah Code 70C-1-302
- Service of process: The service of writs or summonses to the appropriate party.
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(1)(a) A party who is subject to this part shall file notification with the department at least 30 days before commencing business in this state.
(1)(b) After filing the notification required by Subsection (1)(a), a party shall file a notification on or before December 31 of each year.
(1)(c) A notification required by this Subsection (1) shall:
(1)(c)(i) state the name of the party;
(1)(c)(ii) state the name in which the business is transacted if different from that required in Subsection (1)(c)(i);
(1)(c)(iii) state the address of the party’s principal office, which may be outside this state;
(1)(c)(iv) state the address of:
(1)(c)(iv)(A) each office or retail store, if any, in this state at which credit is offered or extended to a consumer; or
(1)(c)(iv)(B) in the case of a party taking an assignment of an obligation, each office or place of business within this state at which business is transacted;
(1)(c)(v) if credit is extended to a consumer other than at an office or retail store in this state, state a brief description of the manner in which the credit transaction occurs;
(1)(c)(vi) state the name and address in this state of a designated agent upon whom service of process may be made;
(1)(c)(vii) include evidence satisfactory to the commissioner that the party is authorized to conduct business in this state as a domestic or foreign entity pursuant to filings with the Division of Corporations and Commercial Code under Title 16, Corporations, or Title 48, Unincorporated Business Entity Act;
(1)(c)(viii) include evidence satisfactory to the commissioner that the party is registered with the nationwide database; and
(1)(c)(ix) include any other information considered pertinent by the department.
(2) If information in a notification becomes inaccurate after filing, a party is not required to file further notification until required to renew the party’s notification.
(3)
(3)(a) A party who fails to file a notification or pay a fee required by this part may not extend credit to a consumer in this state until the party fully complies with this part.
(3)(b) A party who willfully violates this Subsection (3) is guilty of a class B misdemeanor.