2006 Utah Code - 61-2c-507 — Division subrogated to judgment creditor -- Authority to revoke license.

     61-2c-507.   Division subrogated to judgment creditor -- Authority to revoke license.
     (1) If the division pays a judgment creditor from the fund:
     (a) the division is subrogated to the rights of the judgment creditor for the amounts paid out of the fund; and
     (b) any amount and interest recovered by the division shall be deposited in the fund.
     (2) The license of a licensee for whom payment from the fund is made under this part is automatically revoked.
     (3) A licensee whose license is revoked pursuant to Subsection (2) may not apply for a new license until the licensee has paid into the fund:
     (a) the amount paid out of the fund on behalf of the licensee; and
     (b) interest at a rate determined by the division with the concurrence of the commission.

Enacted by Chapter 297, 2004 General Session