Maintenance funding provider registration and registration renewal.
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(1) Except as provided in Subsection (4), a business entity may not act as a maintenance funding provider in this state without registering with the division.
(2) To register as a maintenance funding provider, a business entity shall submit to the division an application for registration:
(a) in the manner the division determines; and
(b) that includes:
(i) an application fee in an amount determined by the division in accordance with Sections 13-1-2 and 63J-1-504; and
(ii) anything else the division requires as established in rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
(3) Each year a maintenance funding provider shall renew the maintenance funding provider's registration by submitting to the division an application for registration renewal:
(a) in the manner the division determines; and
(b) that includes:
(i) an application fee in an amount determined by the division in accordance with Sections 13-1-2 and 63J-1-504; and
(ii) anything else the division requires as established in rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
(4) A business entity who acts as a maintenance funding provider in the state between May 12, 2019, and May 12, 2020, is permitted to continue to act as a maintenance funding provider:
(a) if the person:
(i) applies for registration in accordance with this section; and
(ii) complies with the requirements of this chapter; and
(b) until the division makes a determination regarding the person's application for registration under this section.