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UTAH STATUTES AND CODES
70D-2-305 - Fee restrictions.
70D-2-305. Fee restrictions.
A lender or broker may not accept a fee or deposit from an applicant for a mortgage loanunless at the time the lender or broker accepts the fee or deposit there is a written statement:
(1) signed by the applicant;
(2) stating whether or not the fee or deposit is refundable; and
(3) describing the conditions, if any, under which all or a portion of the fee or depositwill be refunded to the applicant.
A lender or broker may not accept a fee or deposit from an applicant for a mortgage loanunless at the time the lender or broker accepts the fee or deposit there is a written statement:
(1) signed by the applicant;
(2) stating whether or not the fee or deposit is refundable; and
(3) describing the conditions, if any, under which all or a portion of the fee or depositwill be refunded to the applicant.
Renumbered and Amended by Chapter 72, 2009 General Session
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