Title 70D Chapter 2 Section 201
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Financial Institution Mortgage Financing Regulation Act | |
Mortgage Lending and Servicing Act | |
Section 201 | Notification of department -- Exemptions. |
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70D-2-201. Notification of department -- Exemptions.
(1) Except as provided in Subsection (2), a person may not engage in business as a lender, broker, or servicer in this state before the day on which the person: (a) files written notification with the commissioner in accordance with Section 70D-2-202; and (b) pays a fee required by Section 70D-2-203. (2) The following persons are exempt from this part, except for a reimbursement or fee described in Subsection 70D-2-203(2): (a) a federally insured depository institution in this state; (b) a wholly owned subsidiary of a depository institution described in Subsection (2)(a); and (c) a person who: (i) is required to be licensed with the Division of Real Estate pursuant to Title 61, Chapter 2c, Utah Residential Mortgage Practices and Licensing Act; and (ii) is not a servicer. Renumbered and Amended by Chapter 72, 2009 General Session Amended by Chapter 372, 2009 General Session | |
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