Utah § 61-2c-510 Money accumulated -- Purpose.

Utah Statutes

§ 61-2c-510 — Money accumulated -- Purpose.

Utah § 61-2c-510

Title 61Securities Division - Real Estate Division

Ch. 61-2cUtah Residential Mortgage Practices and Licensing Act

Part 61-2c-5Residential Mortgage Loan Education, Research, and Recovery Fund

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Bluebook

Utah Code Ann. § 61-2c-510 (2026).

Text

(1)The division may use money accumulated in the fund in excess of the amount necessary to satisfy claims to:

(1)(a) investigate violations of this chapter related to fraud; and

(1)(b) advance education and research in the field of residential mortgage loans.

(2)The division may use the excess money described in Subsection (1) only in a manner consistent with Subsection (1), including for:

(2)(a) courses sponsored by the division;

(2)(b) courses offered by the division in conjunction with a university or college in Utah;

(2)(c) contracting for a research project for the state in the field of residential mortgage loans;

(2)(d) funding the salaries and training expenses of division staff members who are employed in positions related to the education of mortgage licensees;

(2)(e) funding

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(1) The division may use money accumulated in the fund in excess of the amount necessary to satisfy claims to:

(1)(a) investigate violations of this chapter related to fraud; and
(1)(b) advance education and research in the field of residential mortgage loans.
(2) The division may use the excess money described in Subsection (1) only in a manner consistent with Subsection (1), including for:

(2)(a) courses sponsored by the division;
(2)(b) courses offered by the division in conjunction with a university or college in Utah;
(2)(c) contracting for a research project for the state in the field of residential mortgage loans;
(2)(d) funding the salaries and training expenses of division staff members who are employed in positions related to the education of mortgage licensees;
(2)(e) funding the training expenses of division staff members who are employed in positions conducting investigations of complaints under this chapter; and
(2)(f) publishing and distributing educational materials to:
(2)(f)(i) licensees; and
(2)(f)(ii) applicants for licensure.