Section 70C-1-102 - Purposes - Rules of construction(1) This title shall be liberally construed and applied to promote its underlying purposes and policies.(2) The underlying purposes and policies of this title are: (a) to further consumer understanding of the terms of credit transactions and to foster competition among suppliers of consumer credit so that consumers may obtain credit at reasonable cost;(b) to prohibit certain unfair practices; and(c) to avoid the duplication of laws and regulations pertaining to consumer credit between state and federal authorities and to supplement applicable federal laws and regulations.Enacted by Chapter 159, 1985 General Session