Utah Code 7-25-405. Criminal and civil penalties
Current as of: 2024 | Check for updates
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(1) A person who violates this chapter or who files materially false information with a license application or renewal under this chapter is:
For details, see Utah Code § 76-3-204
Attorney's Note
Under the Utah Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| class B misdemeanor | up to 6 months | up to $1,000 |
Terms Used In Utah Code 7-25-405
- Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
- Department: means the Department of Financial Institutions. See Utah Code 7-1-103
- Licensee: means a person licensed under this chapter. See Utah Code 7-25-102
- Money transmission: means the sale or issuance of a payment instrument or engaging in the business of receiving money for transmission or transmitting money within the United States or to locations abroad by any and all means, including payment instrument, wire, facsimile, or electronic transfer. See Utah Code 7-25-102
- 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
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(1)(a) guilty of a class B misdemeanor; and(1)(b) subject to revocation of the person’s license under this chapter.
(2) Subject to Title 63G, Chapter 4, Administrative Procedures Act, if the commissioner determines that a person is engaging in the business of money transmission in violation of this chapter, the commissioner may:
(2)(a) suspend, revoke, or not renew that person’s license under this chapter;
(2)(b) issue a cease and desist order from committing any further violation;
(2)(c) prohibit the person from continuing to engage in the business of money transmission;
(2)(d) impose an administrative fine not to exceed $1,000 per violation, except that the aggregate total of fines imposed under this chapter against a person in a calendar year may not exceed $30,000 for that calendar year; or
(2)(e) take any combination of actions listed under this Subsection (2).
(3) If the commissioner revokes a license, the department is not required to refund any portion of the licensee‘s filing or renewal fee for the remainder of the period for which the fee is paid.