§ 70D-2-103. Exemptions.

Latest version.

This chapter does not apply to:

(1)	a bona fide nonprofit corporation that grants a first mortgage loan to promote home ownership for low and moderate income borrowers;

(2)

an agency of the following that grants a first mortgage loan under a specific federal or state law:

(a)	the federal government;

(b)	a state, county, or municipal government; or

(c)	a quasi-governmental agency;

(3)	a casual lender that makes less than five mortgage loans a year; or

(4)	a mortgage loan of two years or less.

Renumbered and Amended by Chapter 72, 2009 General Session

                    
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