Utah § 7-17-8 - Damages for lender's violation of act -- Limitations on recovery.
Full text of Utah Utah Code § 7-17-8 — Damages for lender's violation of act -- Limitations on recovery., with citation guidance and answers to common questions.
§ 7-17-8. Damages for lender's violation of act -- Limitations on recovery.
| (1) | Except as otherwise provided in this act, a lender who violates this act is liable to the borrower, his successors or assigns, for the actual damages suffered by the borrower, his assigns or successors, or $100, whichever is greater. If an action is commenced, the prevailing party may be awarded reasonable attorney's fees as determined by the court. |
| (2) | A lender has no liability under this section if the court finds that written demand for payment of the claim of the borrower, his successors or assigns, was made on the lender not less than 30 days before commencement of the action and that the lender tendered to the borrower, his successors or assigns, prior to the commencement of the action, an amount not less than the damages awarded. |
| (3) | A lender may not be held liable under this section for a violation of this act if the lender shows that the violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures to avoid such errors. |
| (4) | A reserve account established or maintained in violation of this act is voidable, at the option of the borrower, his successors or assigns, at any time, but does not otherwise affect the validity of the loan, the security interest in the real property or any other obligation of the borrower. |
| (5) | No action under this section may be brought more than one year after the date of the violation. |
Amended by Chapter 378, 2010 General Session
Source: official Utah text · Last verified 2026-08-27
Frequently Asked Questions About Utah § 7-17-8
What does Utah Code § 7-17-8 cover?
Section 7-17-8 ("Damages for lender's violation of act -- Limitations on recovery.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 7-17-8?
A common citation format is "Utah Code § 7-17-8" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 7-17-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.