UTAH CODE (Last Updated: January 16, 2015) |
Title 70D. Financial Institution Mortgage Financing Regulation Act |
Chapter 2. Mortgage Lending and Servicing Act |
Part 2. Notification to Commissioner |
§ 70D-2-203. Fees -- Examination. (Effective 5/13/2014)
Latest version.
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(1) (a) A person required to file notification under this part shall pay to the commissioner: (i) a fee of $200 with the person's initial notification; and (ii) an annual fee, on or before January 31 of each year, in an amount to be set by rule of the commissioner subject to Subsection (1)(b). (b) The commissioner: (i) subject to Subsection (1)(b)(ii), shall set the annual renewal fee at an amount that generates sufficient revenue to cover the department's costs of administering this chapter; and (ii) may not set an annual renewal fee that exceeds $100 per renewal. (2) (a) The commissioner may require a lender, broker, or servicer to make a record of the lender, broker, or servicer relating to its activities as a lender, broker, or servicer available to the commissioner or the commissioner's authorized representative for examination. (b) A lender, broker, or servicer described in Subsection (2)(a) shall: (i) reimburse the department for travel and other reasonable and necessary costs incurred in the examination described in Subsection (2)(a); and (ii) pay to the commissioner a fee set by the commissioner based on an hourly rate per each examiner, not to exceed $55 per hour for each examiner.
Amended by Chapter 97, 2014 General Session