Commerce, Real Estate

Section R162-2c-402

Disciplinary Action

Notice of Proposed Rule

(Amendment)

DAR File No.: 33792
Filed: 06/30/2010 07:57:20 AM

RULE ANALYSIS

Purpose of the rule or reason for the change:

This proposed rule interprets Subsection 61-2c-402(4)(a), which allows the commission to convert a license revocation to a suspension.

Summary of the rule or change:

The commission may not convert a revocation that was based on a felony conviction involving fraud, misrepresentation, deceit or dishonesty, breach of trust, or money laundering, but may consider converting revocations based on other criminal history.

State statutory or constitutional authorization for this rule:

• Subsection 61-2c-402(4)(a)
• Subsection 61-2c-103(3)

Anticipated cost or savings to:

the state budget:

The costs to the division of reviewing requests for conversion were contemplated by the legislature in passing H.B. 275. No additional costs are anticipated from this rule filing, which clarifies certain provisions of the statute. (DAR NOTE: H.B. 275 (2010) is found at Chapter 238, Laws of Utah 2010, and was effective 05/11/2010.)

local governments:

Local governments do not deal with license revocations on any level. No impact to the budgets of local governments is anticipated.

small businesses:

Any costs to small businesses of pursuing the conversion of a license revocation were considered by the legislature in passing H.B. 275. No additional costs are anticipated from this rule filing, which clarifies certain provisions of the statute.

persons other than small businesses, businesses, or local governmental entities:

Any costs to affected persons of pursuing the conversion of a license revocation were considered by the legislature in passing H.B. 275. No additional costs are anticipated from this rule filing, which clarifies certain provisions of the statute.

Compliance costs for affected persons:

Affected persons are those whose licenses have been revoked. This rule provides parameters within which the commission will review a request from such a person to convert a license revocation. As such, no compliance is required of affected persons; thus, no compliance costs.

Comments by the department head on the fiscal impact the rule may have on businesses:

This rule filing interprets a statutory provision that allows the Division to convert license revocations to license suspensions. No fiscal impact to businesses is anticipated beyond that considered by the Legislature in passing the H.B. 275.

Francine Giani, Executive Director

The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:

Commerce
Real Estate
160 E 300 S
SALT LAKE CITY, UT 84111-2316

Direct questions regarding this rule to:

• Jennie Jonsson at the above address, by phone at 801-530-6706, by FAX at 801-526-4387, or by Internet E-mail at jjonsson@utah.gov

Interested persons may present their views on this rule by submitting written comments to the address above no later than 5:00 p.m. on:

08/16/2010

This rule may become effective on:

08/23/2010

Authorized by:

Deanna Sabey, Director

R162. Commerce, Real Estate.

R162-2c. Utah Residential Mortgage Practices and Licensing Rules.

R162-2c-402. Disciplinary Action.

In reviewing a request to convert a revocation to a suspension pursuant to Section 61-2c-402(4)(a):

(1) The commission may not convert a revocation that was based on a felony conviction involving fraud, misrepresentation, deceit or dishonesty, breach of trust, or money laundering.

(2) The commission may consider converting a revocation that was based on other criminal history, including:

(a) a plea in abeyance, diversion agreement, or similar disposition of a felony charge; and

(b) a misdemeanor offense, regardless of the nature of the charge or the disposition of the case.

 

KEY: residential mortgage, loan origination, licensing, enforcement

Date of Enactment or Last Substantive Amendment: [ April 12, ] 2010

Authorizing, and Implemented or Interpreted Law: 61-2c-103(3) ; 61-2c-402(4)(a)