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Financial Institutions Act | |
Title Lending Registration Act | |
Section 303 | Penalties. |
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7-24-303. Penalties. (1) A person who violates this chapter or who files materially false information with a registration or renewal under Section 7-24-201 is: (a) guilty of a class B misdemeanor except for a violation of: (i) Subsection 7-24-202(1)(e)(i), (ii), or (iii); or (ii) rules made under Subsection 7-24-301(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 extending title loans 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 extend title loans; (d) impose an administrative fine not to exceed $1,000 per violation, except that: (i) a fine imposed under Subsection 7-24-201(2)(e) shall comply with Subsection 7-24-201(2)(e); 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). (3) A person is not subject to the penalties under this section for a violation of this chapter that was not willful or intentional, including a violation resulting from a clerical error.
Amended by Chapter 382, 2008 General Session |
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