Title 61 Chapter 2f Section 507

Securities Division - Real Estate Division
Real Estate Licensing and Practices Act
Section 507
Division authority to act upon receipt of petition.

            

61-2f-507.   Division authority to act upon receipt of petition.

            (1) When the division is served a petition under Section 61-2f-506, the division may:

            (a) file an answer to the petition in the court;

            (b) initiate a review proceeding conducted by the division; or

            (c) appear in any proceeding in the name of the defendant to the action or on behalf of the fund.

            (2) The division may settle a claim against the fund if:

            (a) the person who brings the claim requests a settlement; and

            (b) the court in which the petition is filed approves the settlement.


Renumbered and Amended by Chapter 379, 2010 General Session