Effective March 15, 2006, the Utah Consumer Credit Code was amended by Utah Senate Bill 252, enabling borrowers to waive their rights to participate in a class action related to a closed - or open - end consumer contract. To contract for the waiver, the lender must disclose the waiver to the borrower in the contract. However, beginning with a closed-end or open-end consumer contract entered into on or after August 1, 2006, the lender must make the disclosure in bold type or all capital letters.

The Legal/Compliance Department has created a Utah Waiver of Right to Participate in Class Action (UTWOCA.MSC) (referred to herein as "Waiver") that would operate as an addendum to the promissory note in a closed-end transaction or to a home equity line of credit agreement in an open-end transaction. Although it is NOT mandatory for a borrower to execute the Waiver, Document Systems, Inc. has included the Waiver in all Utah closing packages. If a customer wants this Waiver removed, please contact the Customer Service Department, at (800) 649-1362, to request removal of the form.

If you have any questions regarding the Waiver, please contact the Legal/Compliance Department at (800) 649-1362 or compliance@docmagic.com.

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