1. (1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the department shall adopt a disclosure form for title loans that complies with this section.

2. (2) The department shall specify by rule:

   1. (a) the information to be provided in the disclosure form including:

      1. (i) the costs of obtaining a title loan;
      2. (ii) the consequences of defaulting on a title loan;
      3. (iii) generally available alternatives to a title loan; and
      4. (iv) methods of obtaining credit counseling or other financial advice;
   2. (b) the type size of the disclosure form; and
   3. (c) the manner in which a title lender shall conspicuously provide the disclosure form to a person seeking a title loan.

Amended by Chapter 382, 2008 General Session