§ 70D-2-203 — Fees -- Examination.

(1) (1)(a) A person required to register under this part shall pay to the commissioner:
(1)(a)(i) a fee of $200 with the person's initial registration; and
(1)(a)(ii) an annual fee, on or before December 31 of each year, in an amount to be set by rule of the commissioner subject to Subsection (1)(b).
(1)(b) The commissioner:
(1)(b)(i) subject to Subsection (1)(b)(ii), shall set the annual renewal fee at an amount that generates sufficient revenue to cover the department's costs of administering this chapter; and
(1)(b)(ii) may not set an annual renewal fee that exceeds $100 per renewal.
(2) (2)(a) The commissioner may require a lender, broker, or servicer to make a record of the lender, broker, or servicer relating to its activities as a lender, broker, or servicer available to the commissioner or the commissioner's authorized representative for examination.
(2)(b) A lender, broker, or servicer described in Subsection (2)(a) shall:
(2)(b)(i) reimburse the department for travel and other reasonable and necessary costs incurred in the examination described in Subsection (2)(a); and
(2)(b)(ii) pay to the commissioner a fee set by the commissioner based on an hourly rate per each examiner, not to exceed $55 per hour for each examiner.
(3) No portion of a fee paid or owed to the commissioner under this section is refundable because a person voluntarily or involuntarily ceases to do business as a lender, broker, or servicer:

(3)(a) during the period covered by the fee; or
(3)(b) before the time of an examination by the commissioner of a record pertaining to a transaction preceding the day on which the person ceases to do business as a lender, broker, or servicer.

Legislative History

Amended by Chapter 284, 2015 General Session