Utah Code § 70D-3-501 Disciplinary action.
70D-3-501. Disciplinary action.
(1) The commissioner may through an adjudicative proceeding subject to Title 63G, Chapter 4, Administrative Procedures Act, impose a sanction described in Subsection (2) against an individual if the individual:
(a) is licensed or required to be licensed under this chapter; and
(b) violates this chapter.
(2) The commissioner may against an individual described in Subsection (1) who violates this chapter:
(a) impose an educational requirement;
(b) impose a civil penalty against the individual in an amount not to exceed the greater of:
(i) $2,500 for each violation; or
(ii) the amount equal to any gain or economic benefit derived from each violation;
(c) deny an application for an initial license;
(d) do any of the following to a license under this chapter:
(i) suspend;
(ii) revoke;
(iii) place on probation;
(iv) deny renewal;
(v) deny reinstatement;
(vi) in the case of a denial of a license, set a waiting period for an individual to apply for a license under this chapter; or
(vii) issue a cease and desist order; or
(e) impose a combination of sanctions described in this Subsection (2).
(3)
(a) If the commissioner determines that a practice that the commissioner alleges is unlawful should be enjoined during the pendency of a proceeding incident to an allegation, the commissioner may issue a temporary order in accordance with Section 63G-4-502:
(i) at the commencement of the proceedings; or
(ii) at any time after the proceeding commences.
(b) For purposes of Section 63G-4-502, an immediate and significant danger to the public health, safety, or welfare exists if the commissioner finds from specific facts supported by sworn statement or the records of a person subject to the order that loan applicants or mortgagors are otherwise likely to suffer immediate and irreparable injury, loss, or damage before a proceeding incident to a final order can be completed.
Enacted by Chapter 72, 2009 General Session