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Securities Division - Real Estate Division | |
Utah Residential Mortgage Practices and Licensing Act | |
Section 504 | Authority to act on receipt of petition. |
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61-2c-504. Authority to act on receipt of petition. (1) Upon receipt of a petition meeting the requirements of Section 61-2c-503, the division may answer, initiate review proceedings, or appear in a proceeding: (a) in the name of the defendant to the action; or (b) on behalf of the fund. (2) The division may settle a claim subject to: (a) the application of a petitioner; and (b) court approval.
Enacted by Chapter 297, 2004 General Session |
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