61-2f-402. Investigations -- Disciplinary actions.

633 words·~3 min read·/ut/title-61/chapter-2f/61-2f-402

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

Effective 5/6/2026

(a)The division may conduct a public or private investigation within or outside of this state as the division considers necessary to determine whether a person has violated, is violating, or is about to violate this chapter or any rule or order under this chapter.

(b)If a person makes a report that the person suspects or knows that a person has violated, is violating, or will violate this chapter or a rule or order issued in accordance with this chapter, the person shall make a report only to the division in a form the division approves.

(c)Except for an action initiated in a court with jurisdiction, the division has exclusive jurisdiction to investigate and enforce a violation or an alleged violation of this chapter.

(2)To aid in the enforcement of this chapter or in the prescribing of rules and forms under this chapter, the division may require or permit a person to file a statement in writing, under oath or otherwise as to the facts and circumstances concerning the matter to be investigated.

(a)For the purpose of the investigation described in Subsection

(1), the division or an employee that the division designates may:

(i)administer an oath or affirmation;

(ii)issue a subpoena that requires:

(A)the attendance and testimony of a witness; or

(B)the production of evidence;

(iii)take evidence;

(iv)require the production of a book, paper, contract, record, other document, or information relevant to the investigation; and

(v)serve a subpoena by certified mail.

(b)The division may not require the production of evidence, book, paper, contract, record, other document, or information required to be kept by a brokerage, or licensee in accordance with Section 61-2f-309 after the expiration of the time in which the brokerage is required to maintain and safeguard the record as described in Section 61-2f-309 .

(a)A court with jurisdiction shall enforce, according to the practice and procedure of the court, a subpoena that the division issues.

(b)The division shall pay any witness fee, travel expense, mileage, or any other fee required by the service statutes of the state where the witness or evidence is located.

(a)Except as provided in Subsections (5)(b) and

(c), the division shall commence an adjudicative proceeding under this chapter no later than the earlier of the following:

(i)two years after the day on which the violation is reported to the division; or

(ii)the day on which the brokerage is no longer required to keep and maintain the records as provided in Section 61-2f-309 .

(b)The division may commence an adjudicative proceeding under this chapter after the time period described in Subsection (5)(a) expires if:

(A)the adjudicative proceeding is in response to a civil or criminal judgment or settlement; and

(B)the division commences an adjudicative proceeding no later than one year after the day on which the judgment is issued or the settlement is final; or

(ii)the division and the person subject to an adjudicative proceeding enter into a written stipulation to extend the time period described in Subsection (5)(a) .

(c)The time period described in Subsection (5)(a) is tolled during the division's enforcement of a subpoena under Subsection

(4), including any resulting appeals.

(a)The division may publish notices of admonition, reprimand, suspension, revocation, and surrender with discipline pending in the division newsletter.

(b)Nothing in this Subsection

(6)restricts the division's publication of information, including orders, irrespective of the information's style or format, on the division's website.

(c)Nothing in this Subsection

(6)restricts the division's publication of information as required by Title 52, Chapter 4, Open and Public Meetings Act.

Amended by Chapter 142 , 2026 General Session