67-5-31. Mortgage and Financial Fraud Investigation and Prosecution Restricted Account.
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67-5-31. Mortgage and Financial Fraud Investigation and Prosecution Restricted Account.
(1)There is created a restricted account within the General Fund known as the "Mortgage and Financial Fraud Investigation and Prosecution Restricted Account."
(2)The restricted account includes:
(a)$2,000,000 of deposits from the foreclosure fraud settlement agreement between the United States Justice Department, United States Department of Housing and Urban Development, and a bipartisan group of state attorneys general, including Utah's attorney general, Bank of America, Citi, JP Morgan Chase, GMAC, and Wells Fargo announced in February 2012; and
(b)any other amount appropriated by the Legislature.
(3)Money from the restricted account shall be used by the attorney general to:
(a)investigate and prosecute mortgage and financial fraud throughout the state; and
(b)fund mortgage and financial fraud investigation and prosecution staff.
Enacted by Chapter 350 , 2012 General Session