Title Lending Amendments

SB 309 amends Utah's Title Lending Registration Act by revising the definition of "title loan" to adjust which loans are excluded from that category. This change directly affects title lenders and the types of loans they offer, as it clarifies which loans fall under regulatory requirements. The bill specifically modifies exclusions in the current law - such as those covering purchase money loans or long-term loans - without adding new funding or other provisions. It takes effect on May 7, 2025.