{"data":{"id":"us-ut/utah-code-61-2c-507","jurisdiction":"us-ut","citation":"Utah Code § 61-2c-507","heading":"Division subrogated -- Authority to suspend license.","body":"(1) If the division pays a person from the fund in accordance with this part:\n(a) the division is subrogated to the rights of that person for the amounts paid out of the fund; and\n(b) any amount and interest recovered by the division shall be deposited in the fund.\n(2)\n(a) Subject to Subsection (2)(b), the license of a licensee for whom payment from the fund is made under this part is automatically suspended as of the earlier of the day on which:\n(i) the division is ordered by a court to pay from the fund; or\n(ii) the division pays from the fund.\n(b)\n(i) A person whose license is suspended under Subsection (2)(a) may appeal the suspension in a de novo hearing conducted by the commission:\n(A) after the suspension; and\n(B) in accordance with Title 63G, Chapter 4, Administrative Procedures Act.\n(ii) The commission may delegate:\n(A) to the division or an administrative law judge the authority to conduct a hearing described in Subsection (2)(b)(i); or\n(B) to the division the authority to make a decision on whether relief from a suspension should be granted.\n(3) Unless the suspension is not upheld after a hearing described in Subsection (2)(b), a licensee whose license is suspended pursuant to Subsection (2) may not apply to renew a license nor apply for a new license until the licensee:\n(a) pays into the fund:\n(i) the amount paid out of the fund on behalf of the licensee; and\n(ii) interest at a rate determined by the division with the concurrence of the commission; and\n(b) participates in a hearing before the commission and is approved by the commission, with the concurrence of the director, for licensure or activation of the suspended license.","path":["Title 61 Securities Division - Real Estate Division","Chapter 61-2c Utah Residential Mortgage Practices and Licensing Act","Part 61-2c-5 Residential Mortgage Loan Education, Research, and Recovery Fund"],"source_url":"https://le.utah.gov/xcode/Title61/Chapter2c/61-2c-S507.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"8c07d1a85b0ac684b7291529a963d24dbf5288a73000f93fd2fe0c2bcfc45799","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-61-2c-506","next":"us-ut/utah-code-61-2c-508"},"notice":"GroundRules: Original legal text. Not legal advice."}