§ 61-2c-501.5. Definitions.

Latest version.

As used in this part:

(1)

"Civil judgment" means a judgment in a civil action that:

(a)	is awarded in an action brought against a person licensed under this chapter on the basis of fraud, misrepresentation, or deceit in a residential mortgage loan transaction; and

(b)	awards actual damages.

(2)

"Criminal restitution judgment" means a judgment that, in accordance with the Utah Code of Criminal Procedure, orders criminal restitution to a person and against a person licensed under this chapter for a criminal offense involving fraud, misrepresentation, or deceit in a residential mortgage loan transaction.

(3)

"Final judgment" means one of the following judgments upon termination of the proceedings related to the judgment, including appeals:

(a)	a civil judgment; or

(b)	a criminal restitution judgment.

(4)	"Fund" means the Residential Mortgage Loan Education, Research, and Recovery Fund created in Section 61-2c-501.

Amended by Chapter 289, 2011 General Session

                    
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