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UTAH CODE (Last Updated: January 16, 2015) |
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Title 61. Securities Division - Real Estate Division |
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Chapter 2f. Real Estate Licensing and Practices Act |
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Part 5. Real Estate Education, Research, and Recovery Fund Act |
§ 61-2f-507. Division authority to act upon receipt of petition.
Latest version.
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(1) When the division is served a petition under Section 61-2f-506, the division may: (a) file an answer to the petition in the court; (b) initiate a review proceeding conducted by the division; or (c) appear in any proceeding in the name of the defendant to the action or on behalf of the fund. (2) The division may settle a claim against the fund if: (a) the person who brings the claim requests a settlement; and (b) the court in which the petition is filed approves the settlement.
Renumbered and Amended by Chapter 379, 2010 General Session