Skip to main content
Find a Lawyer

Utah Code Title 7. Financial Institutions Act § 7-25-405. Criminal and civil penalties

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) A person who violates this chapter or who files materially false information with a license application or renewal under this chapter is:

(a) guilty of a class B misdemeanor; and

(b) subject to revocation of the person's license under this chapter.

(2) Subject to Title 63G, Chapter 4, Administrative Procedures Act, if the commissioner determines that a person is engaging in the business of money transmission in violation of this chapter, the commissioner may:

(a) suspend, revoke, or not renew that person's license under this chapter;

(b) issue a cease and desist order from committing any further violation;

(c) prohibit the person from continuing to engage in the business of money transmission;

(d) impose an administrative fine not to exceed $1,000 per violation, except that the aggregate total of fines imposed under this chapter against a person in a calendar year may not exceed $30,000 for that calendar year; or

(e) take any combination of actions listed under this Subsection (2).

(3) If the commissioner revokes a license, the department is not required to refund any portion of the licensee's filing or renewal fee for the remainder of the period for which the fee is paid.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Utah Code Title 7. Financial Institutions Act § 7-25-405. Criminal and civil penalties - last updated January 01, 2025 | https://codes.findlaw.com/ut/title-7-financial-institutions-act/ut-code-sect-7-25-405/

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 before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard