UTAH CODE (Last Updated: January 16, 2015) |
Title 61. Securities Division - Real Estate Division |
Chapter 2c. Utah Residential Mortgage Practices and Licensing Act |
Part 5. Residential Mortgage Loan Education, Research, and Recovery Fund |
§ 61-2c-504. Authority to act on receipt of petition.
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(1) Upon receipt of a petition meeting the requirements of Section 61-2c-503, the division may answer, initiate review proceedings, or appear in a proceeding: (a) in the name of the defendant to the action; or (b) on behalf of the fund. (2) The division may settle a claim subject to: (a) the application of a petitioner; and (b) court approval.
Enacted by Chapter 297, 2004 General Session