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Utah Administrative Code (Current through November 1, 2019) |
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R335. Financial Institutions, Consumer Credit |
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R335-2. Rule Prescribing Allowable Terms and Disclosure Requirements for Variable and Adjustable Interest Rates in Consumer Credit Contracts |
R335-2-5. Subsequent Disclosure Requirements
Latest version.
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(1) Any change in the applicable rate resulting from a change in the numerical value of an index need not be disclosed in advance of the change.
(2) Each regular statement of account shall state the rate or weighted average of rates applicable to the account during the period covered by the statement; otherwise, it will not be necessary to give notice of any change in the applicable rate or describe the amount of any change.