Utah Code § 70D-3-103
General powers and duties of commissioner
Utah · Utah Code Title 70D — Financial Institution Mortgage Financing Regulation Act · Status: effective
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- Utah Code § 70D-3-103, General powers and duties of commissioner, Utah, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2350449
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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.