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(1)
(a) The board may order disciplinary action, with the concurrence of the division, against:
(i) an entity registered under this chapter;
(ii) an entity required to be registered under this chapter; or
(iii) a controlling person of an entity described in this Subsection (1)(a).
(b) The board may order disciplinary action, with the concurrence of the division, against an entity, or controlling person of an entity, who is not registered under this chapter, if the entity violated a provision of this chapter or rule made under this chapter:
(i) within four years before the day on which the division commences disciplinary action; and
(ii) during a period in which:
(A) the provision or rule was in effect; and
(B) the entity was registered or required to be registered under this chapter.
(c) If the board, with the concurrence of the division, makes a finding described in Subsection (2) pursuant to an adjudicative proceeding conducted in accordance with Title 63G, Chapter 4, Administrative Procedures Act, the board, with the concurrence of the division, may:
(i) revoke, suspend, or place an entity's registration on probation;
(ii) deny an entity's original registration;
(iii) deny an entity's renewal registration;
(iv) in the case of denial or revocation of a registration, set a waiting period for an applicant to apply for a registration under this chapter;
(v) order remedial education;
(vi) impose a civil penalty upon a person not to exceed the greater of:
(A) $5,000 for each violation; or
(B) the amount of any gain or economic benefit from a violation;
(vii) issue a cease and desist order; or
(viii) do a combination of Subsections (1)(c)(i) through (vii).
(2) Subsection (1) applies if the board finds, with the concurrence of the division, that a person has engaged in, is attempting to, or has attempted to engage in:
(a) an act that violates this chapter;
(b) an act that violates a rule made under this chapter;
(c) procuring a registration for the person or another person by fraud, misrepresentation, or deceit;
(d) paying money or attempting to pay money other than a fee provided for by this chapter to an employee of the division to procure a registration under this chapter;
(e) an act or omission in the business of an appraisal management company that constitutes dishonesty, fraud, or misrepresentation;
(f) unprofessional conduct as defined by statute or rule; or
(g) other conduct that constitutes dishonest dealing.
(3)
(a) If the board, with the concurrence of the director, issues an order that orders a fine or remedial education as part of a disciplinary action against a person, including a stipulation and order, the board shall state in the order the deadline by which the person shall comply with the fine or remedial education requirements.
(b) If a person fails to comply by the stated deadline, the person's registration shall be immediately and automatically suspended:
(i) beginning the day specified in the order as the deadline for compliance; and
(ii) ending the day on which the person complies in full with the order.
(c) If a person fails to pay a fine required by an order, the division shall begin a collection process:
(i) established by the division by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act; and
(ii) subject to Title 63A, Chapter 3, Part 5, Office of State Debt Collection.
(4) To the extent permitted by federal law, the board, with the concurrence of the division, may bring a disciplinary proceeding under this chapter for a violation of 15 U.S.C. Sec. 1639e(i).
(5) A member of the board is immune from a civil action or criminal prosecution for a disciplinary proceeding under this chapter if:
(a) the action is taken without malicious intent; and
(b) in the reasonable belief that the action taken was taken pursuant to the powers and duties vested in a member of the board under this chapter.