Utah Code 7-27-301. Penalties
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(1) Subject to the requirements of Title 63G, Chapter 4, Administrative Procedures Act, the department may:
Terms Used In Utah Code 7-27-301
- Department: means the Department of Financial Institutions. See Utah Code 7-1-103
- Person: means :(27)(a) an individual;(27)(b) a corporation;(27)(c) a limited liability company;(27)(d) a partnership;(27)(e) a trust;(27)(f) an association;(27)(g) a joint venture;(27)(h) a pool;(27)(i) a syndicate;(27)(j) a sole proprietorship;(27)(k) an unincorporated organization; or(27)(l) any form of business entity. See Utah Code 7-1-103(1)(a) receive and act on complaints;(1)(b) take action designed to obtain voluntary compliance with this chapter; or(1)(c) commence administrative or judicial proceedings on the department’s own initiative to enforce compliance with this chapter.
(2) A person who violates a provision of this chapter is subject to a civil penalty of $500 per violation, not to exceed $20,000 for all violations arising from the use of the same transaction documentation or materials.
(3) A person who violates a provision of this chapter after receiving written notice of a prior violation is subject to a civil penalty of $1,000 per violation, not to exceed $50,000 for all violations arising from the use of the same transaction documentation or materials.
(4) Nothing in this chapter creates a private right of action against any person based on failure to comply with the provisions of this chapter.
(5) A violation of this chapter does not affect the enforceability of any underlying agreement.