57-19-5. Registration -- Filing application.
319 words·~1 min read·
/ut/title-57/chapter-19/57-19-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/8/2018
57-19-5. Registration -- Filing application.
(1)A person may apply for registration of a development by filing with the division:
(a)an application in the form prescribed by the director;
(b)the written disclosure described in Section 57-19-11 ; and
(c)financial statements and other information that the director may by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act , require as being reasonably necessary to determine whether the requirements of this chapter have been met and whether any of the events specified in Subsection 57-19-13(2)(g) have occurred.
(2)An interest in a development that is encumbered by a lien, mortgage, or other encumbrance may not be accepted for registration or offered to the public unless:
(a)adequate release or nondisturbance clauses are contained in the encumbering instruments to reasonably assure that the purchaser's interest in the development will not be defeated; or
(b)the division accepts other equivalent assurances that, in the division's opinion, meet the purposes of this Subsection
(2).
(a)A person who applies for a development registration shall include with the application a filing fee of $500 for up to 100 interests, plus an additional $3 per interest for each interest over 100, up to a maximum of $2,500 for each application.
(b)If the division determines that an on-site inspection of the development is necessary, the development shall pay the division the actual amount of the costs and expenses incurred by the division in performing the on-site inspection.
(4)A person may add an additional site or interest to an approved development registration by:
(a)filing an application for consolidation accompanied by an additional fee of $200 plus $3 for each additional interest, up to a maximum of $1,250 for each application; and
(b)providing the information required under Subsection
(1)for each additional site or interest.
Amended by Chapter 281 , 2018 General Session