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5-19-18
Section 5-19-18 Installment payment of debt of one thousand dollars or less. With respect to
consumer credit transactions, where the debt is payable in installments, not made pursuant
to an open-end credit plan and in which the original amount financed is one thousand dollars
($1,000) or less, the debt shall be scheduled to be payable in substantially equal installments
at equal periodic intervals, except to the extent that the schedule of payments is adjusted
to the seasonal or irregular income of the debtor or when the transaction is a single principal
payment obligation irrespective of the scheduled interest payments, and: (1) Over a period
of not more than 36 months and 15 days if the original amount financed is more than three
hundred dollars ($300); or (2) Over a period of not more than 24 months and 15 days if the
original amount financed is three hundred dollars ($300) or less. (Acts 1971, No. 2052, p.
3290, §14; Acts 1989, No. 89-879, p. 1771, §1; Acts 1996, No. 96-576, p....
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5-19-4
Section 5-19-4 Additional charges for default or deferral; prepayment; renewal or refinancing;
real property transactions. (a) When a scheduled payment in a consumer credit transaction
is in default 10 days or more, the creditor may charge and collect a late charge not exceeding
the greater of eighteen dollars ($18) or five percent of the amount of the scheduled payment
in default, not to exceed one hundred dollars ($100). The late charge may be collected only
once on any scheduled payment, regardless of the period during which the scheduled payment
remains in default. (b) With respect to the deferral of one or more wholly unpaid scheduled
payments in a consumer credit transaction, in which the finance charge was determined by the
precomputed method, the creditor may collect, by agreement with the debtor either before or
after default, an additional charge for each full month that any wholly unpaid scheduled payments
are outstanding after the due date of each scheduled payment equal to...
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5-19-20
Section 5-19-20 Insurance. (a) With respect to any consumer credit transaction, the creditor
shall not require any insurance other than insurance against loss of or damage to any property
in which the creditor is given a security interest and insurance insuring the lien of the
creditor on the property which is collateral for the transaction. (b) (1) Credit life and
disability and involuntary unemployment insurance may be offered and, if accepted, may be
provided by the creditor. The charge to the debtor for the insurance shall not exceed the
premium permitted for the coverages. Insurance with respect to any credit transaction shall
not exceed the approximate amount and term of the credit. (2) This subdivision (2) applies
to all consumer credit transactions entered into on or after June 19, 1996. If the consumer
credit transaction is scheduled to be repaid in substantially equal installments which include
a portion of the amount financed, the amount of credit life insurance at any time...
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41-10-547
Section 41-10-547 Bonds of the authority. (a) The authority is authorized from time to time
to sell and issue its bonds for the purpose of financing project costs pertaining to one or
more projects or for the purpose of providing funds to pay training facility management fees,
or any combination of the foregoing including, without limitation, in the case of authority
obligations issued for the purpose of providing funds to pay training facility management
fees, costs, expenses, and other items of the type described in paragraphs g., h., i., and
j. of the definition of project costs in Section 41-10-541 or to enter into guaranty agreements
wherein the authority guarantees payment, in whole or in part, of debt service referable to
obligations issued by development agencies for the purpose of financing project costs pertaining
to one or more projects; provided, however, that the principal amount of authority obligations
shall not exceed three hundred million dollars ($300,000,000). For...
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5-19-10
Section 5-19-10 Contract provisions for attorney's fees. A contract for a consumer credit transaction
with an original amount financed not exceeding three hundred dollars ($300) may not provide
for payment by the debtor of attorney's fees after default by the debtor. A contract for a
consumer credit transaction with an original amount financed exceeding three hundred dollars
($300) may provide for the payment by the debtor of reasonable attorney's fees not exceeding
15 percent of the unpaid debt after default and referral of the contract to an attorney who
is not a salaried employee of the creditor. An open-end credit plan may not provide for attorney's
fees when the unpaid balance does not exceed three hundred dollars ($300), but may provide
for reasonable attorney's fees after default by the debtor when the unpaid balance exceeds
three hundred dollars ($300). In a consumer credit transaction contract where the original
amount financed exceeds ten thousand dollars ($10,000) or the...
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5-19-3
Section 5-19-3 Maximum finance charges; contracting for minimum finance charge; alternate per
month computed finance charge. (a) Except under open-end credit plans, the maximum finance
charge for any credit transaction where the original amount financed is less than two thousand
dollars ($2,000), may equal but may not exceed the total of the following: (1) Fifteen dollars
($15) per one hundred dollars ($100) per year for the first seven hundred fifty dollars ($750)
of the original amount financed; and (2) Ten dollars ($10) per one hundred dollars ($100)
per year for that portion of the original amount financed exceeding seven hundred fifty dollars
($750) and less than two thousand dollars ($2,000). The maximum finance charge under this
subsection shall be determined by computing the maximum rates authorized by this subsection
on the original amount financed for the full term of the contract without regard to scheduled
payments and the maximum finance charge so determined, or any lesser...
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40-23-4
Section 40-23-4 Exemptions. (a) There are exempted from the provisions of this division and
from the computation of the amount of the tax levied, assessed, or payable under this division
the following: (1) The gross proceeds of the sales of lubricating oil and gasoline as defined
in Sections 40-17-30 and 40-17-170 and the gross proceeds from those sales of lubricating
oil destined for out-of-state use which are transacted in a manner whereby an out-of-state
purchaser takes delivery of such oil at a distributor's plant within this state and transports
it out-of-state, which are otherwise taxed. (2) The gross proceeds of the sale, or sales,
of fertilizer when used for agricultural purposes. The word "fertilizer" shall not
be construed to include cottonseed meal, when not in combination with other materials. (3)
The gross proceeds of the sale, or sales, of seeds for planting purposes and baby chicks and
poults. Nothing herein shall be construed to exempt or exclude from the computation of...
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5-18-15
Section 5-18-15 Interest rates, charges, and fees. (a) Maximum rates of interest and charge.
Every licensee under this chapter may contract for and receive as interest on any loan of
money less than one thousand five hundred dollars ($1,500) an amount at a rate not exceeding
three percent a month on that part of the unpaid principal balance not in excess of two hundred
dollars ($200), and two percent a month on that part of the unpaid principal balance in excess
of two hundred dollars ($200) but less than one thousand five hundred dollars ($1,500). (b)
Account maintenance fee. In addition to the maximum rate of interest and charges pursuant
to subsection (a), a licensee may enter into a contract of loan under this chapter in which
the borrower agrees to pay an account maintenance fee of not more than three dollars ($3)
for each month of the scheduled period of repayment of the loan provided that the scheduled
monthly payments are equal to or greater than thirty dollars ($30). Such...
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5-19-1
Section 5-19-1 Definitions. For the purposes of this chapter, the following terms shall have
the following meanings respectively ascribed to them by this section: (1) FINANCE CHARGE.
The sum of all charges, payable directly or indirectly by the person to whom credit is extended,
and imposed directly or indirectly by the creditor as an incident to the extension of credit.
The amount of the finance charge in connection with any credit transaction (i) shall be determined,
and shall include and exclude the fees and charges, as provided by Section 106 of the Federal
Truth-in-Lending Act, 15 U.S.C. Section 1605 and the regulations of the Federal Reserve Board
promulgated pursuant to the Federal Truth-in-Lending Act, 12 C.F.R. Part 226, and the Official
Staff Commentary adopted by the Federal Reserve Board pursuant to that regulation, and without
limiting or affecting the foregoing subparagraph (i), (ii) shall exclude, without limitation,
late charges and other charges resulting from or...
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27-40-9
Section 27-40-9 Service charges; prepayment of obligation. (a) For the purpose of this section,
"consumer insurance premium finance agreement" means an insurance premium finance
agreement as defined in Section 27-40-1 wherein the insurance contracts which are the subject
of the premium finance agreement are for personal, family, or household purposes or where
the premiums for those agreements are two thousand dollars ($2,000) or less. For the purpose
of this section, "commercial premium finance agreement" means any insurance premium
finance agreement other than a consumer premium finance agreement. (b) A premium finance company
shall not charge, contract for, receive, or collect a service charge other than in accordance
with the following provisions: (1) The service charge is to be computed on the balance of
the premium due, after subtracting the down payment made by the insured in accordance with
the premium finance agreement, from the effective date of the insurance for which the...
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