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Financial Institutions Act | |
Check Cashing and Deferred Deposit Lending Registration Act | |
Section 504 | Penalties. |
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7-23-504. Penalties. (1) A person who violates this chapter or who files materially false information with a registration or renewal under Section 7-23-201 is: (a) guilty of a class B misdemeanor, except for a violation of: (i) Subsection 7-23-401(1)(f)(i), (ii), or (iii); or (ii) rules made under Subsection 7-23-501(2)(b); and (b) subject to revocation of a person's registration under this chapter. (2) Subject to Title 63G, Chapter 4, Administrative Procedures Act, if the department determines that a person is engaging in the business of cashing checks or the business of deferred deposit lending in violation of this chapter, the department may: (a) revoke that person's registration under this chapter; (b) issue a cease and desist order from committing any further violations; (c) prohibit the person from continuing to engage in the business of: (i) cashing checks; or (ii) deferred deposit lending; (d) impose an administrative fine not to exceed $1,000 per violation, except that: (i) a fine imposed under Subsection 7-23-201(4) shall comply with Subsection 7-23-201(4); and (ii) the aggregate total of fines imposed under this chapter against a person in a calendar year may not exceed $30,000 for that calendar year; or (e) take any combination of actions listed under this Subsection (2).
Renumbered and Amended by Chapter 96, 2008 General Session |
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