Title 28, COMMERCIAL TRANSACTIONS

28-43-101. Short title. This chapter shall be known and may be cited as the Idaho Credit Code — Regulation of Agreements and Practices.

28-43-201. Compliance with federal Consumer Credit Protection Act. A person upon whom the Federal Consumer Credit Protection Act, including regulations promulgated pursuant thereto, imposes duties or obligations, shall make or give to the debtor the disclosures, information, and …

28-43-202. Notice of assignment. A debtor may pay the original creditor until he receives notification of assignment of rights to payment pursuant to a regulated consumer credit transaction and that payment is to be made to the assignee. A notification which does not reasonably i…

28-43-203. Change in terms of open-end consumer credit accounts. Whether or not a change is authorized by prior agreement, a creditor may change the terms of an open-end consumer credit account applying to any balance incurred before or after the effective date of the change.

28-43-204. Receipts — Statements of account — Evidence of payment. (1) The creditor shall deliver or mail to the debtor, without request, a written receipt for each payment by coin or currency on an obligation pursuant to a regulated consumer credit transaction. A periodic statem…

28-43-205. Form of insurance premium loan agreement. An agreement pursuant to which an insurance premium loan is made shall contain the names of the insurance agent or broker negotiating each policy or contract and of the insurer issuing each policy or contract, the number and in…

28-43-301. Security in sales. (1) With respect to a regulated consumer credit sale, a seller may take a security interest in the property sold. In addition, a seller may take a security interest in goods upon which services are performed or in which goods sold are installed or to…

28-43-302. Cross-collateral. (1) In addition to contracting for a security interest pursuant to the provisions on security in sales, section 28-43-301, Idaho Code, a seller in a regulated consumer credit sale may secure the debt arising from the sale by contracting for a security…

28-43-303. Debt secured by cross-collateral. (1) If debts arising from two (2) or more regulated consumer credit sales, except sales pursuant to open-end credit, are secured by cross-collateral, section 28-43-302, Idaho Code, or consolidated into one (1) debt payable on a single …

28-43-304. No assignment of earnings. (1) A creditor may not take an assignment of earnings of the debtor for payment or as security for payment of a debt arising out of a regulated consumer credit transaction. An assignment of earnings in violation of this section is unenforceab…

28-43-305. Authorization to confess judgment prohibited. A debtor may not authorize any person to confess judgment on a claim arising out of a regulated consumer credit transaction. An authorization in violation of this section is void.

28-43-306. Certain negotiable instruments prohibited. With respect to a regulated consumer credit sale, the creditor may not take a negotiable instrument other than a check dated not later than ten (10) days after its issuance as evidence of the obligation of the debtor.

28-43-307. Balloon payments. (1) Except as provided in subsection (2) of this section, if any scheduled payment of a regulated consumer credit transaction is more than twice as large as the average of earlier scheduled payments, the debtor has the right to refinance, without pena…

28-43-308. Referral sales. With respect to a regulated consumer credit sale, the seller may not give or offer to give a rebate or discount or otherwise pay or offer to pay value to the debtor as an inducement for a sale for the debtor giving to the seller the names of prospective…

28-43-309. Restrictions on interest in land as security. With respect to a regulated consumer loan in which the principal is one thousand dollars ($1,000) or less, a regulated lender may not contract for an interest in land as security. A security interest taken in violation of t…

28-43-310. Regular schedule of payments — Maximum loan term. Regulated consumer loans, not made pursuant to open-end credit and in which the principal is one thousand dollars ($1,000) or less, shall be scheduled to be payable in substantially equal installments at equal periodic …

28-43-311. Limitation on attorney fees. With respect to a regulated consumer loan in which the principal is one thousand dollars ($1,000) or less, the agreement may not provide for the payment by the debtor of attorney’s fees. A provision in violation of this section is unenforce…

28-43-312. Attorney’s fees. Except as provided by the provisions on limitations on attorney’s fees as to certain regulated consumer loans, section 28-43-311, Idaho Code, with respect to a regulated consumer credit transaction the agreement may provide for the payment by the debto…

28-43-401. Home solicitation sale defined. "Home solicitation sale" means a regulated consumer credit sale of goods or services, in which the seller or a person acting for him personally solicits the sale, and the buyer’s agreement or offer to purchase is given to the seller or a…

28-43-402. Buyer’s right to cancel. (1) In addition to any right otherwise to revoke an offer, the buyer may cancel a home solicitation sale until midnight of the third business day after the day on which the buyer signs an agreement or offer to purchase which complies with this …

28-43-403. Form of agreement or offer — Statement of buyer’s rights. (1) In a home solicitation sale, the seller shall present to the buyer and obtain his signature to a written agreement or offer to purchase that designates as the date of the transaction the date on which the bu…

28-43-404. Restoration of down payment. (1) Within ten (10) days after a notice of cancellation has been received by the seller or an offer to purchase has been otherwise revoked, the seller shall tender to the buyer any payments made by the buyer, any note or other evidence of i…

28-43-405. Duty of buyer — No compensation for services before cancellation. Except as provided by the provisions on retention of goods by the buyer, subsection (3) of section 28-43-404, Idaho Code, and allowing for ordinary wear and tear or consumption of the goods contemplated …