DAR File No. 32130

Commerce, Real Estate

R162-208

Continuing Education

FIVE-YEAR NOTICE OF REVIEW AND STATEMENT OF CONTINUATION

DAR File No.: 32130
Filed: 11/10/2008, 04:04
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-104(7) requires the Utah Residential Mortgage Regulatory Commission to establish continuing education requirement for Utah mortgage licensees. This rule establishes the state requirements for continuing education for Utah mortgage licensees.

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 supporting or opposing this rule.

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

The Commission is required to establish continuing education requirements for Utah mortgage licensees. This rule complies with the statutory mandate. In addition, continuing education improves the quality of mortgage loan originations in Utah.

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 msteinagel@utah.gov

Authorized by:

Mark Steinagel, Director