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

(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.

Legislative History

Amended by Chapter 325, 2007 General Session