Utah Administrative Code

The Utah Administrative Code is the body of all effective administrative rules as compiled and organized by the Division of Administrative Rules (see Subsection 63G-3-102(5); see also Sections 63G-3-701 and 702).

NOTE: For a list of rules that have been made effective since July 1, 2019, please see the codification segue page.

NOTE TO RULEFILING AGENCIES: Use the RTF version for submitting rule changes.


R343. Financial Institutions, Nondepository Lenders.

Rule R343-3. Mortgage Lenders, Brokers and Servicers Definitions.

As in effect on July 1, 2019

Table of Contents

R343-3-1. Authority, Scope and Purpose.

(1) This rule is issued pursuant to Section 70D-3-102.

(2) This rule applies to mortgage lenders, brokers or servicers who engage in the business of mortgage lending, brokering or servicing and are required to license with the commissioner.

(3) The purpose of this rule is to define terms.

R343-3-2. Definitions.

(1) "Affiliate" means any company which controls, is controlled by, or is under common control with a depository institution that is subject to the jurisdiction of a federal banking agency.

(2) "Form MU4" means the Uniform Individual Mortgage License/Registration and Consent form adopted by the nationwide database.

(3) "Owned and controlled by a depository institution" means a subsidiary entity that is owned by a parent financial institution that has direct or indirect power to direct or exercise a controlling influence over management or policies.

KEY

mortgage

Date of Enactment or Last Substantive Amendment

December 22, 2009

Notice of Continuation

December 4, 2014

Authorizing, Implemented, or Interpreted Law

70D-3-102


Additional Information

Contact

For questions regarding the content or application of rules under Title R343, please contact the promulgating agency (Financial Institutions, Nondepository Lenders). A list of agencies with links to their homepages is available at http://www.utah.gov/government/agencylist.html or from http://www.rules.utah.gov/contact/agencycontacts.htm.