70D-2-201 - Notification of department -- Exemptions. - Utah Statutes

70D-2-201. Notification of department -- Exemptions.
(1) Except as provided in Subsection (2), a person may not engage in business as alender, broker, or servicer in this state before the day on which the person:
(a) files written notification with the commissioner in accordance with Section70D-2-202; and
(b) pays a fee required by Section 70D-2-203.
(2) The following persons are exempt from this part, except for a reimbursement or feedescribed in Subsection 70D-2-203(2):
(a) a federally insured depository institution in this state;
(b) a wholly owned subsidiary of a depository institution described in Subsection (2)(a);and
(c) a person who:
(i) is required to be licensed with the Division of Real Estate pursuant to Title 61, Chapter2c, Utah Residential Mortgage Practices and Licensing Act; and
(ii) is not a servicer.

Renumbered and Amended by Chapter 72, 2009 General Session
Amended by Chapter 372, 2009 General Session