GroundRules
Utah Code § 70D-3-201: Licensing required -- Exemptions.
Where this section sits in the code
- Title 70D Financial Institution Mortgage Financing Regulation Act
- Chapter 70D-3 Financial Institution Loan Originator Licensing Act
- Part 70D-3-2 Licensing Requirements and Procedures
(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.
(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.
Collected 2026-09-03T11:34:34Z. Source file · JSON