61-2-3. Exempt persons and transactions.
(1) (a) Except as provided in Subsection (1)(b), a license under this chapter is not
required for:
(i) a person who as owner or lessor performs the acts described in Subsection 61-2-2 (12)
with reference to property owned or leased by that person;
(ii) a regular salaried employee of the owner or lessor of real estate who, with reference
to nonresidential real estate owned or leased by the employer, performs the acts enumerated in
Subsections 61-2-2(12)(a) and (b);
(iii) a regular salaried employee of the owner of real estate who performs property
management services with reference to real estate owned by the employer, except that the
employee may only manage property for one employer;
(iv) a person who performs property management services for the apartments at which
that person resides in exchange for free or reduced rent on that person's apartment;
(v) a regular salaried employee of a condominium homeowners' association who
manages real property subject to the declaration of condominium that established the
homeowners' association, except that the employee may only manage property for one
condominium homeowners' association; and
(vi) a regular salaried employee of a licensed property management company who
performs support services, as prescribed by rule, for the property management company.
(b) Subsection (1)(a) does not exempt from licensing:
(i) an employee engaged in the sale of properties regulated under:
(A) Title 57, Chapter 11, Utah Uniform Land Sales Practices Act; and
(B) Title 57, Chapter 19, Timeshare and Camp Resort Act;
(ii) an employee engaged in the sale of cooperative interests regulated under Title 57,
Chapter 23, Real Estate Cooperative Marketing Act; or
(iii) a person whose interest as an owner or lessor is obtained by that person or
transferred to that person for the purpose of evading the application of this chapter, and not for
any other legitimate business reason.
(2) A license under this chapter is not required for:
(a) an isolated transaction by a person holding a duly executed power of attorney from
the owner;
(b) services rendered by an attorney in performing the attorney's duties as an attorney;
(c) a receiver, trustee in bankruptcy, administrator, executor, or a person acting under
order of any court;
(d) a trustee or employee of a trustee under a deed of trust or a will;
(e) a public utility, officer of a public utility, or regular salaried employee of a public
utility, unless performance of any of the acts set out in Subsection 61-2-2(12) is in connection
with the sale, purchase, lease, or other disposition of real estate or investment in real estate
unrelated to the principal business activity of that public utility;
(f) a regular salaried employee or authorized agent working under the oversight of the
Department of Transportation when performing an act on behalf of the Department of
Transportation in connection with one or more of the following:
(i) the acquisition of real property pursuant to Section 72-5-103;
(ii) the disposal of real property pursuant to Section 72-5-111;
(iii) services that constitute property management; or
(iv) the leasing of real property;
(g) a regular salaried employee of a county, city, or town when performing an act on
behalf of the county, city, or town:
(i) in accordance with:
(A) if a regular salaried employee of a city or town:
(I) Title 10, Utah Municipal Code; or
(II) Title 11, Cities, Counties, and Local Taxing Units; and
(B) if a regular salaried employee of a county:
(I) Title 11, Cities, Counties, and Local Taxing Units; and
(II) Title 17, Counties; and
(ii) in connection with one or more of the following:
(A) the acquisition of real property, including by eminent domain;
(B) the disposal of real property;
(C) services that constitute property management; or
(D) the leasing of real property.
(3) A license under this chapter is not required for a person registered to act as a
broker-dealer, agent, or investment adviser under the Utah and federal securities laws in the sale
or the offer for sale of real estate if:
(a) (i) the real estate is a necessary element of a "security" as that term is defined by the
Securities Act of 1933 and the Securities Exchange Act of 1934; and
(ii) the security is registered for sale:
(A) pursuant to the Securities Act of 1933; or
(B) by Title 61, Chapter 1, Utah Uniform Securities Act; or
(b) (i) it is a transaction in a security for which a Form D, described in 17 C.F.R. Sec.
239.500, has been filed with the Securities and Exchange Commission pursuant to Regulation D,
Rule 506, 17 C.F.R. Sec. 230.506; and
(ii) the selling agent and the purchaser are not residents of this state.
Amended by Chapter 356, 2009 General Session
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Last revised: Thursday, May 28, 2009