61-2c-510 - Money accumulated -- Purpose. - Utah Statutes

61-2c-510. Money accumulated -- Purpose.
(1) The division may use money accumulated in the fund in excess of the amountnecessary to satisfy claims to:
(a) investigate violations of this chapter related to fraud; and
(b) advance education and research in the field of residential mortgage loans.
(2) The division may use the excess money described in Subsection (1) only in a mannerconsistent with Subsection (1), including for:
(a) courses sponsored by the division;
(b) courses offered by the division in conjunction with a university or college in Utah;
(c) contracting for a research project for the state in the field of residential mortgageloans;
(d) funding the salaries and training expenses of division staff members who areemployed in positions related to the education of mortgage licensees;
(e) funding the training expenses of division staff members who are employed inpositions conducting investigations of complaints under this chapter; and
(f) publishing and distributing educational materials to:
(i) licensees; and
(ii) applicants for licensure.

Amended by Chapter 325, 2007 General Session