38-1a-603. Notice of intent to finance.
181 words·~1 min read·
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Effective 1/1/2020
38-1a-603. Notice of intent to finance.
(1)An owner may file with the registry a notice of intent to finance.
(2)A notice of intent to finance under Subsection
(1)shall state:
(a)the anticipated date on which financing will occur;
(b)the anticipated lender's name, address, and telephone number;
(c)the name of the trustor on the trust deed securing the anticipated loan;
(d)the tax parcel identification number of each parcel included in the project property; and
(e)the name of the county in which the project property is located.
(3)If an owner chooses to file a notice of intent to finance, the owner shall file the notice of intent to finance no less than 14 days before the date on which the financing is anticipated to occur.
(4)If the financing does not occur within 30 days after the anticipated date specified in the notice of intent to finance, the notice of intent to finance shall automatically have no effect and shall be removed from the registry.
Enacted by Chapter 250 , 2019 General Session