1. (1) In accordance with this section, a creditor may contract with the debtor of a closed-end consumer contract for a waiver by the debtor of the right to initiate or participate in a class action related to the closed-end consumer contract.

2. (2) To contract for the waiver described in Subsection (1), the creditor shall disclose the waiver:

   1. (a) to the debtor;
   2. (b) in the closed-end consumer contract; and

   3. (c) for a closed-end consumer contract entered into on or after August 1, 2006, in:

      1. (i) bold type; or
      2. (ii) all capital letters.

Enacted by Chapter 172, 2006 General Session