No. 32694: R162-201. Residential Mortgage Definitions

DAR File No.: 32694
Filed: 05/27/2009, 01:40
Received by: NL

NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:

Subsection 61-2c-103(3) permits the Division of Real Estate to make various rules to administer the Utah Residential Mortgage Practices Act. Rule R162-201 defines terms used throughout the rule.

Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:

The Division has received no comments regarding Rule R162-201.

Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:

As with statute, administrative rules are more clearly understood when a definition section is included. Rule R162-201 creates a place to define terms that help the public know how the subsequent rules apply. Therefore, this rule should be continued.

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

Commerce
Real Estate
HEBER M WELLS BLDG
160 E 300 S
SALT LAKE CITY UT 84111-2316

Direct questions regarding this rule to:

Mark Steinagel at the above address, by phone at 801-530-6744, by FAX at 801-530-6749, or by Internet E-mail at [e-mail]

Authorized by:

Mark Steinagel, Director