2012 Utah Code
Title 70D - Financial Institution Mortgage Financing Regulation Act
Article 3 - Financial Institution Loan Originator Licensing Act
Section 103 - General powers and duties of commissioner.

Subject to this chapter:

(1) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may make rules authorized by this chapter, including:

(a) providing for an interim procedure for:

(i) licensing; and

(ii) acceptance of an application; and

(b) coordination between filings required under this chapter and:

(i) Title 70C, Utah Consumer Credit Code; or

(ii) Chapter 2, Mortgage Lending and Servicing Act.

(2) The commissioner may enter into a relationship or contract with the nationwide database or another entity designated by the nationwide database to do the following related to a licensee or other person subject to this chapter:

(a) collect or maintain a record; and

(b) process a transaction fee or other fee.

(3) The commissioner shall regularly report the following to the nationwide database:

(a) a violation of this chapter;

(b) disciplinary action under Section 70D-3-501; and

(c) other information relevant to this chapter.

Enacted by Chapter 72, 2009 General Session