UTAH CODE (Last Updated: January 16, 2015)

§ 67-5-31. Mortgage and Financial Fraud Investigation and Prosecution Restricted Account.

Latest version.

(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

                    
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