HB107 Converted WP Floor Amendments

1st Sub. H.B. 107
UTAH RESIDENTIAL MORTGAGE PRACTICES ACT

House Floor Amendments

Amendment 9 February 25, 2000 10:07 AM

Representative HARPER proposes the following amendments:

1.    Page 8, Line 242
    House Committee Amendments
    2-22-00:    Delete "or"

2.    Page 9, Line 243:    After "fiduciary" insert "; or (m) an attorney admitted to practice law in this state:
        (i) if the attorney is not principally engaged in the business of negotiating residential mortgage loans; and
        (ii) when the attorney renders services in the course of the attorney's practice as an attorney.
        (3)(a) Notwithstanding Subsection (2)(m), an attorney exempt from this chapter may not engage in conduct described in Section 61-2c-301 when transacting business of residential mortgage loans.
        (b) If an attorney exempt from this chapter violates Subsection (3)(a), the attorney:
        (i) is not subject to enforcement by the division under Part 4, Enforcement; and
        (ii) is subject to disciplinary action generally applicable to an attorney admitted to practice law in this state.
        (c) If the division receives a complaint alleging an attorney exempt from this chapter is in violation Subsection (3)(a), the division shall forward the complaint to the Utah State Bar for disciplinary action."