{"data":{"id":"us-ut/utah-code-7-27-202","jurisdiction":"us-ut","citation":"Utah Code § 7-27-202","heading":"Disclosures for commercial financing transactions.","body":"(1) Before consummating a commercial financing transaction, a provider shall disclose the terms of the commercial financing transaction in accordance with this section and rules made by the commissioner.\n(2) A provider shall disclose the following information in connection with each commercial financing transaction:\n(a) the total amount of funds provided to the business under the terms of the commercial financing transaction;\n(b) the total amount of funds disbursed to the business under the terms of the commercial financing transaction, if less than the amount described in Subsection (2)(a);\n(c) the total amount to be paid to the provider under the terms of the commercial financing transaction;\n(d) the total dollar cost of the commercial financing transaction, calculated by finding the difference between:\n(i) the amount described in Subsection (2)(a); and\n(ii) the amount described in Subsection (2)(c);\n(e)\n(i) the manner, frequency, and amount of each payment; or\n(ii) if the amount of each payment may vary, the manner, frequency, and estimated amount of the initial payment; and\n(f) a statement of whether there are any costs or discounts associated with prepayment under the commercial financing transaction, including a reference to the paragraph in the commercial financing transaction agreement that creates each cost or discount.\n(3) The commercial financing transaction agreement shall include a description of the methodology for calculating any variable payment amount and the circumstances that may cause a payment amount to vary.\n(4) The provisions of this section apply to a commercial financing transaction consummated on or after January 1, 2023.","path":["Title 7 Financial Institutions Act","Chapter 7-27 Commercial Financing Registration and Disclosure Act","Part 7-27-2 Registration"],"source_url":"https://le.utah.gov/xcode/Title7/Chapter27/7-27-S202.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"cb6f209fcaef58bc9becc92d338ebf3358719cbf91ae188be3962faa0ee30815","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-7-27-201","next":"us-ut/utah-code-7-27-301"},"notice":"GroundRules: Original legal text. Not legal advice."}