Maintenance Funding Providers

Utah Code tit. 13, ch. 13-57, pt. 13-57-P2

in effect

Utah Code § 13-57-201 Maintenance funding provider registration and registration renewal.

13-57-201. Maintenance funding provider registration and registration renewal. (1) (a) A person may not act as a consumer maintenance funding provider in this state without registering with the division. (b) A person who regularly engages as a commercial maintenance funding provider may not act as a commercial maintenance funding provider in this state without registering with the division. (2) To register as a maintenance funding provider, a person shall submit to the division an application for registration: (a) in the manner the division determines; and (b) that includes: (i) an application fee in an amount the division determines in accordance with Sections 13-1-2 and 63J-1-504; and (ii) anything else the division requires as established in rule the division makes in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. (3) A registration of a consumer maintenance funding provider under this chapter is effective for one year after the day on which the division issues the registration. (4) Each year a maintenance funding provider shall renew the maintenance funding provider's registration by submitting to the division an application for registration renewal: (a) in the manner the division determines; and (b) that includes: (i) an application fee in an amount determined by the division in accordance with Sections 13-1-2 and 63J-1-504; and (ii) anything else the division requires as established in rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. (5) To renew a consumer maintenance funding provider registration in accordance with this section, a consumer maintenance funding provider shall submit a registration renewal application to the division at least 30 days before the day on which the consumer maintenance funding provider's registration expires. (6) A consumer maintenance funding provider shall update registration information within 30 days after the day on which information the consumer maintenance funding provider provides on the application becomes incorrect or incomplete. Amended by Chapter 121, 2026 General Session

Utah Code § 13-57-201.1 Denial, suspension, or revocation of a registration or application.

13-57-201.1. Denial, suspension, or revocation of a registration or application. In accordance with Chapter 2, Division of Consumer Protection, and Title 63G, Chapter 4, Administrative Procedures Act, the division may initiate adjudicative proceedings to deny, suspend, or revoke an application or registration if: (1) the division finds that the denial, suspension, or revocation is in the public interest; and (2) (a) the registration is incomplete, false, or misleading; or (b) the applicant or the applicant's principal: (i) violates, causes a violation, allows a violation, or fails to satisfy the requirements of a provision of: (A) this chapter; or (B) a rule the division makes in accordance with this chapter; (ii) violates Chapter 11, Utah Consumer Sales Practices Act; or (iii) is enjoined by a court, or is the subject of an administrative or judicial order issued in Utah or another state, if the order: (A) includes a finding or admission of fraud, breach of fiduciary duty, or material misrepresentation; or (B) is based on a finding of a lack of integrity, truthfulness, or mental competence; (iv) is convicted of a crime involving theft, fraud, or dishonesty; (v) obtains or attempts to obtain a registration by misrepresenting a material fact; (vi) fails to provide information the division requests; (vii) fails to pay an administrative fine the division or an administrative or judicial order imposes; or (viii) fails to pay the fee to file a registration application or a renewal application. Enacted by Chapter 95, 2026 General Session

Utah Code § 13-57-202 Consumer maintenance funding provider operations -- Prohibited acts.

13-57-202. Consumer maintenance funding provider operations -- Prohibited acts. (1) A consumer maintenance funding provider may only provide legal funding to a consumer if the consumer maintenance funding provider and the consumer enter into a consumer maintenance funding agreement that meets the requirements of Section 13-57-301. (2) Before executing a consumer maintenance funding agreement, a consumer maintenance funding provider shall file with the division a template of the consumer maintenance funding agreement. (3) A consumer maintenance funding provider may not: (a) pay or offer to pay a commission, referral fee, or any other form of consideration to the following for referring a consumer to the consumer maintenance funding provider: (i) an attorney authorized to practice law; (ii) a health care provider; or (iii) an employee, independent contractor, or other person affiliated with a person described in Subsection (3)(a)(i) or (ii); (b) accept a commission, referral fee, or any other form of consideration from a person described in Subsection (3)(a) for referring a consumer to the person; (c) refer a consumer or potential consumer to a person described in Subsection (3)(a), unless the referral is to a local or state bar association referral service; (d) intentionally advertise materially false or misleading information about the consumer maintenance funding provider's services; (e) make or attempt to influence a decision relating to the conduct, settlement, or resolution of a legal action for which the consumer maintenance funding provider provides legal funding; (f) knowingly pay or offer to pay court costs, filing fees, or attorney fees using legal funding; (g) attempt to obtain a waiver of a remedy or right from the consumer, including the right to trial by jury. (h) represent that the division or the state endorses the consumer maintenance funding provider; (i) omit from a filing with the division a material statement of fact that this chapter or a rule the division makes in accordance with this chapter requires; or (j) include in a filing with the division a material statement of fact that the consumer maintenance funding provider or consumer maintenance funding provider's principal knows or should know is false, deceptive, inaccurate, or misleading. (4) A consumer maintenance funding provider shall provide a consumer who enters a consumer maintenance funding agreement a copy of the executed consumer maintenance funding agreement. (5) A consumer maintenance funding provider may not offer maintenance funding to a consumer who has retained, or been referred by, an attorney or law firm that has a financial interest in the consumer maintenance funding provider. (6) A consumer maintenance funding provider may not enter into a consumer maintenance funding agreement directly or indirectly with a foreign entity of concern or a foreign country or person of concern. Amended by Chapter 121, 2026 General Session

Utah Code § 13-57-203 Annual reports.

13-57-203. Annual reports. (1) On or before April 1 of each year, a maintenance funding provider registered in accordance with Section 13-57-201 shall file a report: (a) that includes an unsworn declaration that the consumer maintenance funding provider's chief financial officer or the consumer maintenance funding provider's principal makes in accordance with Title 78B, Chapter 18a, Uniform Unsworn Declarations Act, confirming the report's accuracy; (b) with the division; and (c) in a form the division approves. (2) The report described in Subsection (1) shall include, for the preceding calendar year: (a) the number of consumer maintenance funding agreements and commercial maintenance funding agreements entered into by the maintenance funding provider; (b) the total dollar amount of funding the maintenance funding provider provided; (c) the total dollar amount of charges under each consumer maintenance funding agreement and each commercial maintenance funding agreement, itemized and including the annual rate of return; (d) the total dollar amount and number of funding transactions in which the realized profit to the maintenance funding provider was as contracted; (e) the total dollar amount and number of funding transactions in which the realized profit to the maintenance funding provider was less than contracted; and (f) any other information the director requires concerning the maintenance funding provider's business or operations in the state. Amended by Chapter 121, 2026 General Session

Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title13/Chapter57/13-57-P2.html?v=C13-57-P2_2020051220200512Fetched: 10/26/2026