76-6-522 - Definitions -- Equity skimming of a vehicle -- Penalties. - Utah Statutes

76-6-522. Definitions -- Equity skimming of a vehicle -- Penalties.
(1) As used in this section:
(a) "Broker" means any person who, for compensation of any kind, arranges for the sale,lease, sublease, or transfer of a vehicle.
(b) "Dealer" means any person engaged in the business of selling, leasing, or exchangingvehicles for compensation of any kind.
(c) "Lease" means any grant of use or possession of a vehicle for consideration, with orwithout an option to buy.
(d) "Security interest" means an interest in a vehicle that secures payment or performanceof an obligation.
(e) "Transfer" means any delivery or conveyance of a vehicle to another from one personto another.
(f) "Vehicle" means every device in, upon, or by which any person or property is or maybe transported or drawn upon a highway, or through the air or water, or over land and includes amanufactured home or mobile home as defined in Section 41-1a-102.
(2) A dealer or broker or any other person in collusion with a dealer or broker is guilty ofequity skimming of a vehicle if he transfers or arranges the transfer of a vehicle for considerationor profit, when he knows or should have known the vehicle is subject to a lease or securityinterest, without first obtaining written authorization of the lessor or holder of the security interest.
(3) Equity skimming of a vehicle is a third degree felony.
(4) It is a defense to the crime of equity skimming of a vehicle if the accused proves by apreponderance of the evidence that the lease obligation or security interest has been satisfiedwithin 30 days following the transfer of the vehicle.

Amended by Chapter 1, 1992 General Session