61-2c-510. Money accumulated -- Purpose.

174 words·~1 min read·/ut/title-61/chapter-2c/61-2c-510

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)The division may use money accumulated in the fund in excess of the amount necessary to satisfy claims to:

(a)investigate violations of this chapter related to fraud; and

(b)advance education and research in the field of residential mortgage loans.

(2)The division may use the excess money described in Subsection

(1)only in a manner consistent with Subsection

(1), including for:

(a)courses sponsored by the division;

(b)courses offered by the division in conjunction with a university or college in Utah;

(c)contracting for a research project for the state in the field of residential mortgage loans;

(d)funding the salaries and training expenses of division staff members who are employed in positions related to the education of mortgage licensees;

(e)funding the training expenses of division staff members who are employed in positions conducting investigations of complaints under this chapter; and

(f)publishing and distributing educational materials to:

(i)licensees; and

(ii)applicants for licensure.

Amended by Chapter 325 , 2007 General Session