Money accumulated -- Purpose.

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  • (1) The division may use money accumulated in the fund in excess of the amount necessary to satisfy claims to:
    • (a) investigate violations of this chapter related to fraud; and
    • (b) advance education and research in the field of residential mortgage loans.
  • (2) The division may use the excess money described in Subsection (1) only in a manner consistent with Subsection (1), including for:
    • (a) courses sponsored by the division;
    • (b) courses offered by the division in conjunction with a university or college in Utah;
    • (c) contracting for a research project for the state in the field of residential mortgage loans;
    • (d) funding the salaries and training expenses of division staff members who are employed in positions related to the education of mortgage licensees;
    • (e) funding the training expenses of division staff members who are employed in positions conducting investigations of complaints under this chapter; and
    • (f) publishing and distributing educational materials to:
      • (i) licensees; and
      • (ii) applicants for licensure.




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