Title 70D Financial Institution Mortgage Financing Regulation Act Chapter 2 Mortgage Lending and Servicing Act Section 103 Exemptions.
70D-2-103.Exemptions.
This chapter does not apply to:
(1) a bona fide nonprofit corporation that grants a first mortgage loan to promote home
ownership for low and moderate income borrowers;
(2) an agency of the following that grants a first mortgage loan under a specific federal or
state law:
(a) the federal government;
(b) a state, county, or municipal government; or
(c) a quasi-governmental agency;
(3) a casual lender that makes less than five mortgage loans a year; or
(4) a mortgage loan of two years or less.
Renumbered and Amended by Chapter 72, 2009 General Session
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