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Utah Code Title 70D. Financial Institution Mortgage Financing Regulation Act § 70D-3-103. General powers and duties of commissioner

Current as of May 05, 2022 | Updated by FindLaw Staff

Subject to this chapter:

(1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may make rules authorized by this chapter, including:

(a) providing for an interim procedure for:

(i) licensing; and

(ii) acceptance of an application; and

(b) coordination between filings required under this chapter and:

(i) Title 70C, Utah Consumer Credit Code; or

(ii) Chapter 2, Mortgage Lending and Servicing Act.

(2) The commissioner may enter into a relationship or contract with the nationwide database or another entity designated by the nationwide database to do the following related to a licensee or other person subject to this chapter:

(a) collect or maintain a record; and

(b) process a transaction fee or other fee.

(3) The commissioner shall regularly report the following to the nationwide database:

(a) a violation of this chapter;

(b) disciplinary action under Section 70D-3-501; and

(c) other information relevant to this chapter.

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Cite this article: FindLaw.com - Utah Code Title 70D. Financial Institution Mortgage Financing Regulation Act § 70D-3-103. General powers and duties of commissioner - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-70d-financial-institution-mortgage-financing-regulation-act/ut-code-sect-70d-3-103/

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