STATE STATUTES & CODES
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UTAH STATUTES AND CODES
70D-2-502 - Enforcement -- Rulemaking -- Federal law.
70D-2-502. Enforcement -- Rulemaking -- Federal law.
(1) The commissioner may:
(a) in accordance with Title 63G, Chapter 4, Administrative Procedures Act:
(i) receive and act on a complaint;
(ii) take action designed to obtain voluntary compliance with this chapter; or
(iii) commence a proceeding on the commissioner's own initiative to enforce compliancewith this chapter;
(b) counsel a person or group on the person's or group's rights and duties under thischapter;
(c) make rules in accordance with Title 63G, Chapter 3, Utah Administrative RulemakingAct, to:
(i) restrict or prohibit a lending or servicing practice that is misleading, unfair, orabusive;
(ii) promote or assure fair and full disclosure of the terms and conditions of an agreementor communication between:
(A) a lender or servicer; and
(B) a borrower; or
(iii) promote or assure uniform application of or to resolve ambiguities in applicable stateor federal laws or federal regulations; and
(d) employ hearing examiners, clerks, and other employees and agents as necessary toperform the commissioner's duties under this chapter.
(2) (a) A person subject to this chapter violates this chapter if the person violates afederal law:
(i) that is applicable to the person because of the activities that make the person subjectto this chapter; and
(ii) pursuant to the terms of the federal law in effect on the day the person violates thefederal law.
(b) The commissioner shall by rule, made in accordance with Title 63G, Chapter 3, UtahAdministrative Rulemaking Act, and consistent with this chapter, designate which one or morefederal laws are applicable to a person described in Subsection (2)(a).
(c) (i) Notwithstanding the other provisions of this chapter, only the commissioner mayenforce or bring an action under this chapter for a violation described in this Subsection (2).
(ii) The commissioner may bring an action under this Subsection (2) in state court.
(1) The commissioner may:
(a) in accordance with Title 63G, Chapter 4, Administrative Procedures Act:
(i) receive and act on a complaint;
(ii) take action designed to obtain voluntary compliance with this chapter; or
(iii) commence a proceeding on the commissioner's own initiative to enforce compliancewith this chapter;
(b) counsel a person or group on the person's or group's rights and duties under thischapter;
(c) make rules in accordance with Title 63G, Chapter 3, Utah Administrative RulemakingAct, to:
(i) restrict or prohibit a lending or servicing practice that is misleading, unfair, orabusive;
(ii) promote or assure fair and full disclosure of the terms and conditions of an agreementor communication between:
(A) a lender or servicer; and
(B) a borrower; or
(iii) promote or assure uniform application of or to resolve ambiguities in applicable stateor federal laws or federal regulations; and
(d) employ hearing examiners, clerks, and other employees and agents as necessary toperform the commissioner's duties under this chapter.
(2) (a) A person subject to this chapter violates this chapter if the person violates afederal law:
(i) that is applicable to the person because of the activities that make the person subjectto this chapter; and
(ii) pursuant to the terms of the federal law in effect on the day the person violates thefederal law.
(b) The commissioner shall by rule, made in accordance with Title 63G, Chapter 3, UtahAdministrative Rulemaking Act, and consistent with this chapter, designate which one or morefederal laws are applicable to a person described in Subsection (2)(a).
(c) (i) Notwithstanding the other provisions of this chapter, only the commissioner mayenforce or bring an action under this chapter for a violation described in this Subsection (2).
(ii) The commissioner may bring an action under this Subsection (2) in state court.
Renumbered and Amended by Chapter 72, 2009 General Session
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