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Current as of May 05, 2022 | Updated by FindLaw Staff
(1) The division may use money accumulated in the fund in excess of the amount necessary to satisfy claims to:
(a) investigate violations of this chapter related to fraud; and
(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:
(a) courses sponsored by the division;
(b) courses offered by the division in conjunction with a university or college in Utah;
(c) contracting for a research project for the state in the field of residential mortgage loans;
(d) funding the salaries and training expenses of division staff members who are employed in positions related to the education of mortgage licensees;
(e) funding the training expenses of division staff members who are employed in positions conducting investigations of complaints under this chapter; and
(f) publishing and distributing educational materials to:
(i) licensees; and
(ii) applicants for licensure.
Cite this article: FindLaw.com - Utah Code Title 61. Securities Division--Real Estate Division § 61-2c-510. Money accumulated--Purpose - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-61-securities-division-real-estate-division/ut-code-sect-61-2c-510/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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