Utah Statutes
§ 61-2f-510 — Division subrogated to claimant -- Authority to revoke license.
Utah·Title 61 Securities Division - Real Estate Division·Ch. 61-2f Real Estate Licensing and Practices Act·Part 61-2f-5 Real Estate Education, Research, and Recovery Fund Act
(1)(1)(a) If the division pays a claim against the fund in accordance with this chapter, the division is subrogated to the rights of the person who is paid the claim for the amounts paid out of the fund.
(1)(b) The division shall deposit in the fund any amount and interest recovered by the division under this part.
(2)(2)(a) The license of a real estate licensee for whom payment from the fund is made under this chapter shall be automatically revoked.
(2)(b) A person whose real estate license is revoked under Subsection (2)(a) may not apply for a new license under this chapter until the person pays in full:
(2)(b)(i) the amount paid by the fund for a claim that is based on a final judgment against the person; and
(2)(b)(ii) interest at a rate determined by the division with the concurrenc
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Utah § 61-2f-510 (Division subrogated to claimant -- Authority to revoke license.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Renumbered and Amended by Chapter 379, 2010 General Session
Nearby Sections
15
§ 61-1-1
Fraud unlawful.§ 61-1-10
Registration by qualification.§ 61-1-101
Title.§ 61-1-102
Definitions.§ 61-1-103
Procedure for disclosure.§ 61-1-105
Remedies for employee bringing action.§ 61-1-106
Award for reporter.§ 61-1-13
Definitions.§ 61-1-14
Exemptions.