Commercial Financing

Commercial Financing Registration and Disclosure Act

During the 2022 General Session, Utah’s Legislature passed SB183 Financial Institutions Modifications. SB183 enacts the Commercial Financing Registration and Disclosure Act codified in Chapter 27 of Utah Code Title 7 Financial Institutions Act.

Two key provisions of Chapter 27 took effect on January 1, 2023:

  • Utah Code §7-27-201 – It is unlawful for a person to engage in a commercial financing transaction as a provider in Utah or with a Utah resident unless the person:
    • (i) registers with the Department in accordance with this chapter; and
    • (ii) maintains a valid registration.
  • Utah Code §7-27-202 covers the disclosures for commercial financing transactions.
    • 7-27-202(4) provides that the provisions of this section apply to a commercial financing transaction consummated on or after January 1, 2023.

Those who conduct commercial financing transactions in Utah or with a Utah resident should read SB183 and Utah Code §7-27-101 et. seq. to determine if they are subject to the statute and to comply accordingly.

If you have questions about whether you are subject to the Commercial Financing Registration and Disclosure Act, please read the following resources.

It is up to each person or company to determine if they are subject to the Commercial Financing Registration and Disclosure Act and to comply with Chapter 27 accordingly.

Contact Information

If you have additional questions about The Commercial Financing Registration and Disclosure Act (Utah Code §7-27-101 et. al.), please contact our Department:

  • Supervisor of Money Services Businesses: Paul Cline
  • Utah Department of Financial Institutions: