Utah Code 13-57-201. Maintenance funding provider registration and registration renewal
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(1) Except as provided in Subsection (4), a business entity may not act as a maintenance funding provider in this state without registering with the division.
Terms Used In Utah Code 13-57-201
- Business entity: means a sole proprietorship, partnership, limited partnership, limited liability company, corporation, or other entity or association used to carry on a business for profit. See Utah Code 13-57-102
- Division: means the Division of Consumer Protection of the Department of Commerce established in Section 13-2-1. See Utah Code 13-57-102
- Maintenance funding provider: means a business entity that engages in the business of legal funding. See Utah Code 13-57-102
- Person: means :(24)(a) an individual;(24)(b) an association;(24)(c) an institution;(24)(d) a corporation;(24)(e) a company;(24)(f) a trust;(24)(g) a limited liability company;(24)(h) a partnership;(24)(i) a political subdivision;(24)(j) a government office, department, division, bureau, or other body of government; and(24)(k) any other organization or entity. See Utah Code 68-3-12.5
- State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2) To register as a maintenance funding provider, a business entity shall submit to the division an application for registration:(2)(a) in the manner the division determines; and(2)(b) that includes:(2)(b)(i) an application fee in an amount determined by the division in accordance with Sections 13-1-2 and 63J-1-504; and(2)(b)(ii) anything else the division requires as established in rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.(3) Each year a maintenance funding provider shall renew the maintenance funding provider’s registration by submitting to the division an application for registration renewal:(3)(a) in the manner the division determines; and(3)(b) that includes:(3)(b)(i) an application fee in an amount determined by the division in accordance with Sections 13-1-2 and 63J-1-504; and(3)(b)(ii) anything else the division requires as established in rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.(4) A business entity who acts as a maintenance funding provider in the state between May 12, 2019, and May 12, 2020, is permitted to continue to act as a maintenance funding provider:(4)(a) if the person:(4)(a)(i) applies for registration in accordance with this section; and(4)(a)(ii) complies with the requirements of this chapter; and(4)(b) until the division makes a determination regarding the person’s application for registration under this section.