61-2c-203. General qualifications for licensure.
177 words·~1 min read·
/ut/title-61/chapter-2c/61-2c-203A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/4/2022
61-2c-203. General qualifications for licensure.
(1)To qualify for licensure under this chapter, a person shall demonstrate through procedures established by rule made by the division in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act :
(a)financial responsibility;
(b)honesty, integrity, and truthfulness; and
(c)the competence to transact the business of residential mortgage loans, including general fitness such as to command the confidence of the community and to warrant a determination that the person will operate honestly, fairly, and efficiently within the purposes of this chapter.
(2)If an applicant is an entity, the applicant may not have a control person who fails to meet the requirements of Subsection
(1)for an individual applicant.
(a)The division shall determine whether an applicant with a criminal history qualifies for licensure.
(b)If the division, acting under Subsection (3)(a) , denies or restricts a license or places a license on probation, the applicant may petition the commission for de novo review of the application.
Amended by Chapter 204 , 2022 General Session