Utah Code § 70C-4-103

Current with legislation effective through 5/2/2024

Section 70C-4-103 - Finance charge for open-end accounts

With respect to an open-end consumer credit contract, a finance charge may only be calculated during any particular billing cycle on the basis of either:

(1) the average or actual daily balance of the account; or

(2) the unpaid balance of the account on the last day of the billing cycle after deducting payments and credits received during the same cycle.

Utah Code § 70C-4-103

Enacted by Chapter 159, 1985 General Session