Utah Code § 13-64-203: Preliminary period -- Cancellation -- Refund.

(1)

(a) A vehicle value protection agreement shall provide for a preliminary period of at least 30 days.

(b) If a purchaser cancels a vehicle value protection agreement within the preliminary period, the purchaser is entitled to a refund of the charges under the vehicle value protection agreement as follows:

(i) if benefits have not been provided, a full refund; or

(ii) if benefits have been provided, a refund to the extent provided for in the vehicle value protection agreement.

(2)

(a) Except as provided in Subsection (2)(b), if a provider cancels a vehicle value protection agreement, the provider shall mail a written notice to the purchaser at least five days before the day on which the vehicle value protection agreement is canceled.

(b) A provider may immediately cancel a vehicle value protection agreement upon sending a notice of cancellation to the purchaser if the reason for the cancellation is:

(i) the purchaser's failure to pay the provider's fee under the vehicle value protection agreement; or

(ii) the purchaser's breach of the purchaser's duties relating to the covered vehicle.

(3) A notice described in Subsection (2) shall include:

(a) the effective date of the cancellation; and

(b) the reason for the cancellation.

(4) If a provider cancels a vehicle value protection agreement for a reason other than the purchaser's failure to pay the provider's fee under the vehicle value protection agreement, the provider:

(a) shall refund the purchaser any unearned provider fee under the vehicle value protection agreement;

(b) may charge the purchaser an administrative fee of up to $75; and

(c) may deduct the amount of a benefit paid under the vehicle value protection agreement from the refund.