Utah Administrative Code
Topic - Public Safety
Title R704 - Emergency Management
Rule R704-3 - Local Government Emergency Response Loan Program
Section R704-3-9 - Recovering on Defaulted Loans
Universal Citation: UT Admin Code R 704-3-9
Current through Bulletin 2024-06, March 15, 2024
(1) Loans may be considered in default when two consecutive payments are past due by 30 days or more.
(2) If the loan is determined to be in default under Subsection R704-3-9(1), the Division or the Division of Finance may declare the full amount of the defaulted loan, penalty and interest immediately due.
(3) The borrower shall be liable for attorney's fees and collection costs for defaulted loans, whether incurred before or after court action.
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