Utah Code 38-11-201. Residence Lien Recovery Fund
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(1) There is created an expendable special revenue fund called the “Residence Lien Recovery Fund.”
Terms Used In Utah Code 38-11-201
- Lien: A claim against real or personal property in satisfaction of a debt.
- 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) The fund shall earn interest.
(3) The division shall employ personnel and resources necessary to administer the fund and shall use fund money in accordance with Sections 38-11-203 and 38-11-204 and to pay the costs charged to the fund by the attorney general.
(4) Costs incurred by the division, on or after May 8, 2018, for administering the fund may be paid out of fund money in an amount that may be no more than a total of $300,000 for the remaining existence of the fund.
(5)
(5)(a) The Division of Finance shall report annually to the Legislature and the division.
(5)(b) The report shall state:
(5)(b)(i) amounts received by the fund;
(5)(b)(ii) disbursements from the fund;
(5)(b)(iii) interest earned and credited to the fund; and
(5)(b)(iv) the fund balance.