UTAH CODE (Last Updated: January 16, 2015) |
Title 70D. Financial Institution Mortgage Financing Regulation Act |
Chapter 3. Financial Institution Loan Originator Licensing Act |
Part 2. Licensing Requirements and Procedures |
§ 70D-3-205. Surety bond requirements.
Latest version.
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(2) The commissioner shall by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, establish minimum surety bonding requirements under this section, except that the requirements shall: (a) reflect the dollar amount of residential mortgage loans originated by a loan originator; and (b) ensure that if in accordance with this chapter a surety bond is posted by an employer or other entity on behalf of an individual, the bond covers the activities of the individual regulated by this chapter.
Enacted by Chapter 72, 2009 General Session