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Utah Code § 7-23-402

Electronic disbursement and collections

Utah · Utah Code Title 7 — Financial Institutions Act · Status: effective

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Utah Code § 7-23-402, Electronic disbursement and collections, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2324586
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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.