reglab/housing_qa huggingface dataset:
UT Code § 61-2e-301 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2e - Appraisal Management Company Registration and Regulation Act|Part 3 - Operational Requirements|Section 301 - Use of licensed or certified appraisers.

 Effective 5/10/2016  61-2e-301. Use of licensed or certified appraisers.    (1) An appraisal management company required to be registered under this chapter may not enter into an agreement with an appraiser for the performance of a real estate appraisal activity unless the appraiser is licensed or certified in good standing pursuant to Chapter 2g, Real Estate Appraiser Licensing and Certification Act.     (2)   (a) An appraisal management company required to be registered under this chapter shall have a system to verify that an individual added to the appraiser panel of the appraisal management company holds a license or certificate in good standing in this state pursuant to Chapter 2g, Real Estate Appraiser Licensing and Certification Act.     (b) As part of the registration process under Part 2, Registration, an appraisal management company shall biennially provide an explanation of the system described in Subsection (2)(a) in the form prescribed by the division.       (3) The board, with the concurrence of the division, may establish, by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, requirements regarding when use of a licensed appraiser or certified appraiser is appropriate, including how an assignment is offered to an appraiser.    Amended by Chapter 384, 2016 General Session
UT Code § 61-2e-302 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2e - Appraisal Management Company Registration and Regulation Act|Part 3 - Operational Requirements|Section 302 - Adherence to standards.

 Effective 5/8/2018  61-2e-302. Adherence to standards.    (1) An appraisal management company required to be registered under this chapter shall have a system in place to:   (a) ensure that the appraisal management company only selects for a real estate appraisal activity an appraiser who:   (i) is independent of the transaction; and     (ii) has the requisite education, expertise, and experience necessary to competently complete the real estate appraisal activity for the particular market and property type;       (b) review the work of an appraiser who performs a real estate appraisal activity for the appraisal management company on a periodic basis to ensure that a real estate appraisal activity is conducted in accordance with applicable appraisal standards; and     (c) ensure that the appraisal management company conducts appraisal management services in accordance with the requirements of the Truth in Lending Act, 15 U.S.C. Sec. 1639e(a)-(i), and the regulations thereunder.       (2) As part of the registration process under Part 2, Registration, an appraisal management company shall biennially provide an explanation of each system described in Subsection (1) in the form prescribed by the division.    Amended by Chapter 213, 2018 General Session
UT Code § 61-2e-303 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2e - Appraisal Management Company Registration and Regulation Act|Part 3 - Operational Requirements|Section 303 - Recordkeeping.

 Effective 5/12/2015  61-2e-303. Recordkeeping.    (1) An appraisal management company required to be registered under this chapter shall:   (a) maintain a detailed record of the following for the same time period an appraiser is required to maintain an appraisal record for the same real estate appraisal activity:   (i) a real estate appraisal activity request that the appraisal management company receives; and     (ii) the appraiser that performs the real estate appraisal activity described in Subsection (1) for the appraisal management company; and       (b) retain for at least five years any file reviewed by the appraisal management company in accordance with Section 61-2e-302 and any documents that relate to the review, including:   (i) the appraisal;     (ii) any documentation of the review; and     (iii) any correspondence that relates to the review.         (2) As part of the registration process under Part 2, Registration, an appraisal management company shall biennially provide an explanation of its recordkeeping described in Subsection (1) in the form prescribed by the division.    Amended by Chapter 262, 2015 General Session
UT Code § 61-2e-304 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2e - Appraisal Management Company Registration and Regulation Act|Part 3 - Operational Requirements|Section 304 - Required disclosure -- Customary and reasonable compensation.

 Effective 5/10/2016  61-2e-304. Required disclosure -- Customary and reasonable compensation.    (1) Before an appraisal management company may receive money from a client for a real estate appraisal activity requested by the client, the appraisal management company shall disclose to the client the total compensation that the appraisal management company pays to the appraiser who performs the real estate appraisal activity.     (2) An appraisal management company shall compensate an appraiser for an appraisal at a rate that is:   (a) customary and reasonable for an appraisal in the geographic market area of the property being appraised; and     (b) consistent with a presumption of compliance under the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203, and implementing federal regulations.       (3) The board may, with the concurrence of the division, define by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act:   (a) the disclosures required to be made by the appraisal management company to the appraiser;     (b) the disclosures required to be made by the appraiser in the appraisal report;     (c) the form and content of the disclosure required by Subsection (1); and     (d) the customary and reasonable compensation required to be paid to appraisers by appraisal management companies.      Amended by Chapter 25, 2016 General SessionAmended by Chapter 384, 2016 General Session
UT Code § 61-2e-305 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2e - Appraisal Management Company Registration and Regulation Act|Part 3 - Operational Requirements|Section 305 - Employee requirements.

 Effective 5/10/2016  61-2e-305. Employee requirements.    (1) Subsection (2) applies to an individual who:   (a)   (i) is an employee of an appraisal management company; or     (ii) works on behalf of an appraisal management company; and       (b)   (i) selects an appraiser for the performance of a real estate appraisal activity for the appraisal management company; or     (ii) reviews a completed appraisal.         (2)   (a) An individual described in Subsection (1) is required to be appropriately trained and qualified in the performance of an appraisal, as determined by rule made by the board, with the concurrence of the division, in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.     (b) For purposes of an individual described in Subsection (1) who reviews the work of an appraiser, to comply with this Subsection (2), the individual shall demonstrate knowledge of the applicable appraisal standards, as determined by rule made by the board, with the concurrence of the division, in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.      Amended by Chapter 25, 2016 General Session
UT Code § 61-2e-306 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2e - Appraisal Management Company Registration and Regulation Act|Part 3 - Operational Requirements|Section 306 - Removal of appraiser from appraisal panel.

 Effective 5/12/2020  61-2e-306. Removal of appraiser from appraisal panel.    (1) An appraisal management company may not remove the appraiser from the appraisal management company's appraiser panel, or otherwise refuse to assign a request for a real estate appraisal activity to the appraiser without:   (a) notifying the appraiser in writing of:   (i) the reason why the appraiser is being removed from the appraiser panel of the appraisal management company; and     (ii) the nature of the alleged conduct or violation if the appraiser is being removed from the appraiser panel for:   (A) illegal conduct; or     (B) a violation of the applicable appraisal standards; and         (b) providing an opportunity for the appraiser to respond to the notification under Subsection (1)(a).       (2) The board, with the concurrence of the division, may establish by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, requirements consistent with this section regarding the removal of an appraiser from an appraisal panel.    Amended by Chapter 72, 2020 General Session
UT Code § 61-2f-101 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 1 - General Provisions|Section 101 - Title.

61-2f-101. Title.  This chapter is known as the "Real Estate Licensing and Practices Act."  Enacted by Chapter 379, 2010 General Session
UT Code § 61-2f-104 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 1 - General Provisions|Section 104 - List of licensees, registrants, and certificate holders to be available.

61-2f-104. List of licensees, registrants, and certificate holders to be available.    (1) Upon request, the division shall make available a list of the names and addresses of the persons licensed, registered, or certified by it under this chapter either directly or through a third party.     (2) A person who requests a list under Subsection (1) shall pay the costs incurred by the division to make the list available.    Renumbered and Amended by Chapter 379, 2010 General Session
UT Code § 61-2f-105 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 1 - General Provisions|Section 105 - Fees.

61-2f-105. Fees.    (1) In addition to when expressly authorized in another provision of this chapter, the division may charge and collect reasonable fees determined by the commission with the concurrence of the division under Section 63J-1-504 to cover the costs for:   (a) issuing a new or duplicate license;     (b) registering an entity or branch office;     (c) certifying a real estate school, course, or instructor;     (d) providing a history of a license, registration, or certification;     (e) producing a certified copy of an official document, order, or other paper or transcript; and     (f) other duties required by this chapter.       (2) Notwithstanding Section 13-1-2, a fee collected under Subsection (1)(c) shall be deposited in the Real Estate Education, Research, and Recovery Fund.     (3) If a person pays a fee or costs to the division with a negotiable instrument or other payment method that is not honored for payment:   (a) the transaction for which the payment is submitted is voidable by the division;     (b) the division may reverse the transaction if payment of the applicable fee or costs is not received in full; and     (c) the person's license, certification, or registration is automatically suspended:   (i) beginning the day on which the payment is due; and     (ii) ending the day on which payment is made in full.         (4)   (a) A fee under this chapter is in lieu of all other license fees or assessments that might otherwise be imposed or charged by the state or any of its political subdivisions upon, or as a condition of, the privilege of conducting the business regulated by this chapter, except that a political subdivision within the state may charge a business license fee on a principal broker if the principal broker maintains a place of business within the jurisdiction of the political subdivision.     (b) Unless otherwise exempt, a licensee under this chapter is subject to the taxes imposed under Title 59, Revenue and Taxation.      Amended by Chapter 289, 2011 General Session
UT Code § 61-2f-106 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 1 - General Provisions|Section 106 - Severability.

61-2f-106. Severability.  If a provision of this chapter, or the application of a provision to any person or circumstance, is held invalid, the remainder of this chapter shall be given effect without the invalid provision or application. The provisions of this chapter are severable.  Renumbered and Amended by Chapter 379, 2010 General Session
UT Code § 61-2f-201 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 2 - Licensure, Registration, and Certification|Section 201 - License required.

61-2f-201. License required.    (1) Unless a person is licensed under this chapter, it is unlawful for the person to do the following with respect to real estate located in this state:   (a) engage in the business of a principal broker, associate broker, or sales agent;     (b) act in the capacity of a principal broker, associate broker, or sales agent;     (c) advertise or assume to act as a principal broker, associate broker, or a sales agent.       (2) Except as provided in Section 61-2f-202, an individual is required to be licensed as a principal broker, associate broker, or a sales agent if the individual performs, offers to perform, or attempts to perform one act for valuable consideration of:   (a) buying, selling, leasing, managing, or exchanging real estate for another person; or     (b) offering for another person to buy, sell, lease, manage, or exchange real estate.      Renumbered and Amended by Chapter 379, 2010 General Session
UT Code § 61-2f-205 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 2 - Licensure, Registration, and Certification|Section 205 - Form of license.

 Effective 5/12/2020  61-2f-205. Form of license.  The division shall issue to a licensee a license that contains:  (1) the name and address of the licensee;     (2) the seal of the state; and     (3) any other matter prescribed by the division.    Amended by Chapter 72, 2020 General Session
UT Code § 61-2f-207 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 2 - Licensure, Registration, and Certification|Section 207 - Change of information -- Failure to notify.

61-2f-207. Change of information -- Failure to notify.    (1) An applicant, licensee, registrant, or certificate holder shall send the division a signed statement in the form required by the division notifying the division within 10 business days of any change of:   (a) principal broker;     (b) principal business location;     (c) mailing address;     (d) home street address;     (e) an individual's name; or     (f) business name.       (2) The division may charge a fee established by the commission with the concurrence of the division in accordance with Section 63J-1-504 for processing any notification of change submitted by an applicant, licensee, registrant, or certificate holder.     (3)   (a) When providing the division a business location or home street address, a physical location or street address must be provided.     (b) When providing a mailing address, an applicant, licensee, registrant, or certificate holder may provide a post office box or other mail drop location.       (4) Failure to notify the division of a change described in Subsection (1) is separate grounds for disciplinary action against an applicant, licensee, registrant, or certificate holder.     (5) An applicant, licensee, registrant, or certificate holder is considered to have received any notification that has been sent to the last address furnished to the division by the applicant, licensee, registrant, or certificate holder.    Renumbered and Amended by Chapter 379, 2010 General Session
UT Code § 61-2f-208 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 2 - Licensure, Registration, and Certification|Section 208 - Surrender of license.

 Effective 5/13/2014  61-2f-208. Surrender of license.    (1) The division may, by written agreement, accept the voluntary surrender of a license issued under this chapter.     (2) Tender and acceptance of a voluntary surrender of a license under Subsection (1):   (a) does not prevent the division from pursuing additional action, including disciplinary action, that relates to the surrendered license and is authorized by this chapter or by rules made under this chapter; and     (b) terminates all rights and privileges associated with the license.       (3) A person may restore the rights and privileges described in Subsection (2)(b) only if the person reapplies for, and is granted, licensure in accordance with the requirements described in this chapter.     (4) Any documentation relating to the tender and acceptance of a voluntary surrender is a public record.    Enacted by Chapter 350, 2014 General Session
UT Code § 61-2f-301 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 3 - Operational Requirements|Section 301 - Reporting requirements.

61-2f-301. Reporting requirements.    (1) A licensee shall notify the division of the following by sending the division a signed statement within 10 business days of:   (a) a conviction of, or the entry of a plea in abeyance to:   (i) a felony; or     (ii) a misdemeanor involving financial services or a financial services-related business, fraud, a false statement or omission, theft or wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion;       (b) the potential resolution of a felony or of a misdemeanor described in Subsection (1)(a)(ii) by:   (i) a diversion agreement; or     (ii) another agreement under which a criminal charge is held in suspense for a period of time;       (c) the filing of a personal or brokerage bankruptcy, if the licensee is a principal broker;     (d) the suspension, revocation, surrender, cancellation, or denial of a license or registration of the licensee that is necessary to engage in an occupation or profession, regardless of whether the license or registration is issued by this state or another jurisdiction; or     (e) the entry of a cease and desist order or a temporary or permanent injunction:   (i) against the licensee by a court or administrative agency; and     (ii) on the basis of:   (A) conduct or a practice involving the business of real estate; or     (B) conduct involving fraud, misrepresentation, or deceit.           (2) The commission, with the concurrence of the director, shall enforce the reporting requirement under this section pursuant to Section 61-2f-404.    Amended by Chapter 166, 2012 General Session
UT Code § 61-2f-302 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 3 - Operational Requirements|Section 302 - Affiliation with a principal broker.

61-2f-302. Affiliation with a principal broker.    (1) An individual who is not a principal broker may not engage in an act described in Section 61-2f-201 unless the individual is affiliated with a principal broker as:   (a) an associate broker; or     (b) a sales agent.       (2)   (a) An inactive associate broker or sales agent may not conduct a real estate transaction until the inactive associate broker or sales agent becomes affiliated with a principal broker and submits the required documentation to the division.     (b) An inactive principal broker may not conduct a real estate transaction until the principal broker's license is activated with the division.       (3) A sales agent or associate broker may not affiliate with more than one principal broker at the same time.     (4) An individual may not be a principal broker of an entity and a sales agent or associate broker for a different entity at the same time.     (5) An owner, purchaser, lessor, or lessee who engages the services of a principal broker may designate which sales agents or associate brokers affiliated with that principal broker will also represent that owner, purchaser, lessor, or lessee in the purchase, sale, lease, or exchange of real estate, or in exercising an option relating to real estate.    Amended by Chapter 184, 2010 General SessionRenumbered and Amended by Chapter 379, 2010 General Session
UT Code § 61-2f-303 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 3 - Operational Requirements|Section 303 - Sale agents or associate broker -- Affiliated with principal broker as independent contractors or employees -- Presumption.

 Effective 5/12/2015  61-2f-303. Sale agents or associate broker -- Affiliated with principal broker as independent contractors or employees -- Presumption.    (1)   (a) A sales agent or associate broker may be affiliated with a principal broker either as an independent contractor or as an employee.     (b) The relationship between sales agent or associate broker and principal broker is presumed to be an independent contractor relationship unless there is clear and convincing evidence that the relationship was intended by the parties to be an employer employee relationship.       (2) The presumption of an independent contractor relationship extends to all of the duties and services that the sales agent or associate broker performs, including the preparation and receipt of payment for a broker price opinion.    Amended by Chapter 262, 2015 General Session
UT Code § 61-2f-304 (2021)
2021 Utah Code|Title 61 - Securities Division - Real Estate Division|Chapter 2f - Real Estate Licensing and Practices Act|Part 3 - Operational Requirements|Section 304 - Termination of associate broker or sales agent by principal broker -- Notice.

 Effective 5/9/2017  61-2f-304. Termination of associate broker or sales agent by principal broker -- Notice.    (1) If a principal broker terminates an associate broker or sales agent, the principal broker shall notify the division and the associate broker or sales agent of the termination in a manner prescribed by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, by the commission with the concurrence of the division.     (2) An associate broker or sales agent may not perform any act under this chapter, directly or indirectly, from and after the effective date of the termination notice until the day on which the associate broker or sales agent is affiliated with a principal broker.    Amended by Chapter 182, 2017 General Session