{"data":{"id":"us-ut/utah-code-31a-6b-302","jurisdiction":"us-ut","citation":"Utah Code § 31A-6b-302","heading":"Required disclosures.","body":"(1) A guaranteed asset protection waiver shall disclose the information described in Subsection (2):\n(a) in writing; and\n(b) in understandable language that is easy to read.\n(2) A guaranteed asset protection waiver shall disclose:\n(a) the name and address of the initial creditor and the borrower at the time the guaranteed asset protection waiver is executed;\n(b) if there is an administrator for the guaranteed asset protection waiver:\n(i) the name of the administrator;\n(ii) the address of the administrator; and\n(iii) a toll-free number to contact the administrator;\n(c) the charge for the guaranteed asset protection waiver;\n(d) the terms of the guaranteed asset protection waiver, including:\n(i) the requirements for receiving the protection of the guaranteed asset protection waiver;\n(ii) the conditions imposed by the guaranteed asset protection waiver; and\n(iii) the exclusions from the protection of the guaranteed asset protection waiver;\n(e) the procedure the borrower must follow, if any, to obtain a benefit under the guaranteed asset protection waiver, including a telephone number and address where the borrower may apply for a benefit under the guaranteed asset protection waiver;\n(f) that the borrower may cancel the guaranteed asset protection waiver;\n(g) the rights the borrower has to a refund under Section 31A-6b-303;\n(h) if the guaranteed asset protection waiver is cancelled or terminated after the preliminary period:\n(i) the procedures for requesting a refund under Section 31A-6b-303, including that the borrower request a refund in writing in accordance with Section 31A-6b-303; and\n(ii) the methodology for calculating the refund due, if any;\n(i) that none of the following may be conditioned on the purchase of a guaranteed asset protection waiver:\n(i) the extension of credit;\n(ii) a term of credit; or\n(iii) a term of the related vehicle sale or lease; and\n(j)\n(i) that a guaranteed asset protection waiver is subject to limited regulation by the commissioner; and\n(ii) that a complaint regarding a guaranteed asset protection waiver may be submitted to the commissioner.","path":["Title 31A Insurance Code","Chapter 31A-6b Guaranteed Asset Protection Waiver Act","Part 31A-6b-3 Requirements for a Guaranteed Asset Protection Waiver"],"source_url":"https://le.utah.gov/xcode/Title31A/Chapter6b/31A-6b-S302.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"f924d1f3d08f965d559fe7f5131421f92af6a9cd38bf961eb091f9521bc98008","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-31a-6b-301","next":"us-ut/utah-code-31a-6b-303"},"notice":"GroundRules: Original legal text. Not legal advice."}