Utah § 13-42-127 - Periodic reports and retention of records.
Full text of Utah Utah Code § 13-42-127 — Periodic reports and retention of records., with citation guidance and answers to common questions.
§ 13-42-127. Periodic reports and retention of records.
13-42-127.
Periodic reports and retention of records.
(1)
A provider shall provide the accounting required by Subsection (2):
(a)
on cancellation or termination of an agreement; and
(b)
before cancellation or termination of any agreement:
(i)
at least once each month; and
(ii)
no later than five business days after a request by an individual, but the provider need not comply with more than one request in any calendar month.
(2)
A provider, in a record, shall provide each individual for whom it has established a plan an accounting of the following information:
(a)
the amount in an account containing money paid by or on behalf of the individual for fees or distribution to a creditor, or both, as of the date one month before the date of the accounting;
(b)
the amount paid into the account since the last report;
(c)
the amounts and dates of disbursement made on the individual's behalf, or by the individual on the direction of the provider, since the last report to each creditor listed in the plan;
(d)
the amounts deducted, as fees or otherwise, from the amount paid into the account since the last report;
(e)
if, since the last report, a creditor has agreed to accept as payment in full an amount less than the principal amount of the debt owed by the individual:
(i)
the total amount and terms of the settlement;
(ii)
the amount of the debt when the individual assented to the plan;
(iii)
the amount of the debt when the creditor agreed to the settlement; and
(iv)
the calculation of a settlement fee; and
(f)
the amount in the account as of the date of the accounting.
(3)
If an agreement contemplates that a creditor will settle a debt for less than the principal amount of the debt and the provider delegates performance of its duties under this section to another person, the provider may provide the information required by Subsection (2)(e) in a record separate from the record containing the other information required by Subsection (2).
Section 13-42-127 ("Periodic reports and retention of records.") 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 § 13-42-127?
A common citation format is "Utah Code § 13-42-127" (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 § 13-42-127 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.
