UTA LEG Attorney License Exemption

On Mar. 1, UTA LEG passed bill re mortgage practices and licensing.

  • UTA LEG passed SB234 to amend Utah residential mortgage practices, licensing act.
  • Clarifies the attorney exemption under the act and makes other technical changes.
  • Bill makes amendments to UTA LEG 61-2c-105 (scope of chapter), UTA LEG 61-2c-301 (prohibited conduct and violations) and UTA LEG 61-2c-401 (investigations).
  • Bill Provisions
  • Adds that attorney who voluntarily obtains license under chapter is not subject to the provisions of chapter when attorney is acting within scope of attorney role as attorney.
  • Including when acting as an attorney for an individual/entity regulated under chapter.
  • Legislative History
  • On Feb. 13, 2024, bill introduced in the Senate; on Feb. 26, 2024, bill passed Senate.
  • On Feb. 26, 2024, bill introduced in the House; on Mar. 1, 2024, bill passed in House.
  • Effectiveness
  • This bill takes effect on May 1, 2024.
  • Mar. 13, 2024, UTA LEG Governor Approval
  • On Mar. 13, 2024, UTA LEG reported that the governor signed bill SB 234, into law.

Regulators UTA LEG
Entity Types Corp
Reference PR, Bill, 3/13/2024; PR, Bill SB234, 3/13/2024; Bill S.B. 234, 3/1/2024; Citation: *UTA LEG* 61-2c-105, 61-2c-301, 61-2c-401;
Functions Compliance; Legal; Registration/Licensing
Countries United States of America
Products Corporate; Mortgage
Regions Am
Rule Type Final
Rule Date 3/1/2024
Effective Date 5/1/2024
Rule Id 203148
Linked to N/A
Reg. Last Update 3/13/2024
Report Section US Consumer

Last substantive update on 03/20/2024