Full text of Utah Utah Code § 7-27-102 — Application., with citation guidance and answers to common questions.
§ 7-27-102. Application.
Effective 5/4/2022
7-27-102.
Application.
The provisions of this chapter do not apply to:
| (1) |
a provider that is a depository institution; |
| (2) |
a provider that is:
| (a) |
| (i) |
a subsidiary of a depository institution; or |
| (ii) |
a service corporation for a depository institution; and |
|
| (b) |
regulated by a federal banking agency; |
|
| (3) |
a provider that is regulated under the federal Farm Credit Act 12 U.S.C. Sec. 2001 et seq.; |
| (5) |
a provider that consummates five or fewer commercial financing products in the state during any 12 month period; |
| (6) |
a commercial financing transaction secured by real property; |
| (7) |
a commercial financing transaction that is a lease as defined in Section 70A-2a-103; |
| (8) |
a commercial financing transaction that is a purchase-money obligation as defined in Section 70A-9a-103; |
| (9) |
a commercial financing transaction that:
| (a) |
involves a commercial loan or a commercial open-end credit plan; |
| (b) |
is $50,000 or more; and |
| (c) |
extends the commercial loan or the commercial open-end credit plan to:
| (i) |
a motor vehicle dealer or the motor vehicle dealer's affiliate; or |
| (ii) |
a motor vehicle rental company as defined in Section 13-48-103 or the motor vehicle rental company's affiliate; |
|
|
| (10) |
a commercial financing transaction offered by a person in connection with the sale of a product or service that:
| (a) |
the person manufactures, licenses, or distributes; or |
| (b) |
the person's parent company or the person's owned and controlled subsidiary manufactures, licenses, or distributes; or |
|
| (11) |
a commercial financing transaction of more than $1,000,000. |
Enacted by Chapter
449, 2022 General Session
Frequently Asked Questions About Utah § 7-27-102
What does Utah Code § 7-27-102 cover?
Section 7-27-102 ("Application.") 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 § 7-27-102?
A common citation format is "Utah Code § 7-27-102" (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 § 7-27-102 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.
