Utah § 7-23-402 - Electronic disbursement and collections.
Full text of Utah Utah Code § 7-23-402 — Electronic disbursement and collections., with citation guidance and answers to common questions.
§ 7-23-402. Electronic disbursement and collections.
If a deferred deposit lender collects payment on a deferred deposit loan through an electronic payment, the deferred deposit lender shall, on the day the loan is executed:
| (1) | credit the amount of the deferred deposit loan through an electronic payment to the person receiving the deferred deposit loan; or |
| (2) | make the amount of the deferred deposit loan immediately available to the person receiving the deferred deposit loan. |
Renumbered and Amended by Chapter 96, 2008 General Session
Frequently Asked Questions About Utah § 7-23-402
What does Utah Code § 7-23-402 cover?
Section 7-23-402 ("Electronic disbursement and collections.") 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 § 7-23-402?
A common citation format is "Utah Code § 7-23-402" (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 § 7-23-402 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.