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2025 Utah Code
Title 70D - Financial Institution Mortgage Financing Regulation Act
Chapter 3 - Financial Institution Loan Originator Licensing Act
Part 2 - Licensing Requirements and Procedures
Section 201 - Licensing required -- Exemptions.
Universal Citation:
UT Code § 70D-3-201 (2025)
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70D-3-201. Licensing required -- Exemptions.
Enacted by Chapter 72, 2009 General Session
- (1)
- (a) On or after January 1, 2011, except as provided in Subsection (2), an individual described in Subsection (1)(b) may not engage in the business of a loan originator unless that individual:
- (i) is licensed under this chapter; or
- (ii) is a registered loan originator.
- (b) This Subsection (1) applies to an employee or agent of:
- (i) a depository institution;
- (ii) a subsidiary of a depository institution; or
- (iii) an affiliate of a depository institution.
- (a) On or after January 1, 2011, except as provided in Subsection (2), an individual described in Subsection (1)(b) may not engage in the business of a loan originator unless that individual:
- (2) An individual described in Subsection (1)(b) may engage in the business of a loan originator without being licensed under this chapter or a registered loan originator when acting as a loan processor or underwriter.
Enacted by Chapter 72, 2009 General Session
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