Utah § 70D-3-201 Licensing required -- Exemptions.

Utah Statutes

§ 70D-3-201 — Licensing required -- Exemptions.

Utah § 70D-3-201

Title 70DFinancial Institution Mortgage Financing Regulation Act

Ch. 70D-3Financial Institution Loan Originator Licensing Act

Part 70D-3-2Licensing Requirements and Procedures

This text of Utah § 70D-3-201 (Licensing required -- Exemptions.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 70D-3-201 (2026).

Text

(1)(1)(a) On or after January 1, 2011, except as provided in Subsection (2), an individual described in Subsection (1)(b) may not engage in the business of a loan originator unless that individual:

(1)(a)(i) is licensed under this chapter; or

(1)(a)(ii) is a registered loan originator.

(1)(b) This Subsection (1) applies to an employee or agent of:

(1)(b)(i) a depository institution;

(1)(b)(ii) a subsidiary of a depository institution; or

(1)(b)(iii) an affiliate of a depository institution.

(2)An individual described in Subsection (1)(b) may engage in the business of a loan originator without being licensed under this chapter or a registered loan originator when acting as a loan processor or underwriter.

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(1) (1)(a) On or after January 1, 2011, except as provided in Subsection (2), an individual described in Subsection (1)(b) may not engage in the business of a loan originator unless that individual:
(1)(a)(i) is licensed under this chapter; or
(1)(a)(ii) is a registered loan originator.
(1)(b) This Subsection (1) applies to an employee or agent of:
(1)(b)(i) a depository institution;
(1)(b)(ii) a subsidiary of a depository institution; or
(1)(b)(iii) an affiliate of a depository institution.
(2) An individual described in Subsection (1)(b) may engage in the business of a loan originator without being licensed under this chapter or a registered loan originator when acting as a loan processor or underwriter.