57-19-6 - Effective date of application. - Utah Statutes

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Statutes > Utah > Title-57 > Chapter-19 > 57-19-6

57-19-6. Effective date of application.
(1) An application for registration filed pursuant to Section 57-19-5 is effective upon theexpiration of 30 business days following its filing with the director, unless:
(a) an order denying the application pursuant to Section 57-19-13 is in effect;
(b) a prior effective date has been ordered by the director; or
(c) the director has, prior to that date, notified the applicant of a defect in the registrationapplication.
(2) An applicant may consent to the delay of effectiveness until the director by orderdeclares the registration to be effective.
(3) Notwithstanding Section 57-19-4, the division may grant a temporary permit allowingthe developer to begin a sales program while the registration is in process. To obtain a temporarypermit, the developer shall:
(a) submit an application to the division for a temporary permit in the form required bythe division;
(b) submit a substantially complete application for registration to the division, includingall appropriate fees and exhibits required under Section 57-19-5, plus a temporary permit fee of$100;
(c) provide evidence acceptable to the division that all funds received by the developer ormarketing agent will be placed into an independent escrow with instructions that funds will not bereleased until a final registration has been granted;
(d) give to each purchaser and potential purchaser a copy of the proposed property reportthat the developer has submitted to the division with the initial application; and
(e) give to each purchaser the opportunity to cancel the purchase in accordance withSection 57-19-12. The purchaser shall have an additional opportunity to cancel upon the issuanceof an approved registration if the division determines that there is a substantial difference in thedisclosures contained in the final property report and those given to the purchase in the proposedproperty report.

Amended by Chapter 86, 2000 General Session

State Codes and Statutes

Statutes > Utah > Title-57 > Chapter-19 > 57-19-6

57-19-6. Effective date of application.
(1) An application for registration filed pursuant to Section 57-19-5 is effective upon theexpiration of 30 business days following its filing with the director, unless:
(a) an order denying the application pursuant to Section 57-19-13 is in effect;
(b) a prior effective date has been ordered by the director; or
(c) the director has, prior to that date, notified the applicant of a defect in the registrationapplication.
(2) An applicant may consent to the delay of effectiveness until the director by orderdeclares the registration to be effective.
(3) Notwithstanding Section 57-19-4, the division may grant a temporary permit allowingthe developer to begin a sales program while the registration is in process. To obtain a temporarypermit, the developer shall:
(a) submit an application to the division for a temporary permit in the form required bythe division;
(b) submit a substantially complete application for registration to the division, includingall appropriate fees and exhibits required under Section 57-19-5, plus a temporary permit fee of$100;
(c) provide evidence acceptable to the division that all funds received by the developer ormarketing agent will be placed into an independent escrow with instructions that funds will not bereleased until a final registration has been granted;
(d) give to each purchaser and potential purchaser a copy of the proposed property reportthat the developer has submitted to the division with the initial application; and
(e) give to each purchaser the opportunity to cancel the purchase in accordance withSection 57-19-12. The purchaser shall have an additional opportunity to cancel upon the issuanceof an approved registration if the division determines that there is a substantial difference in thedisclosures contained in the final property report and those given to the purchase in the proposedproperty report.

Amended by Chapter 86, 2000 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-57 > Chapter-19 > 57-19-6

57-19-6. Effective date of application.
(1) An application for registration filed pursuant to Section 57-19-5 is effective upon theexpiration of 30 business days following its filing with the director, unless:
(a) an order denying the application pursuant to Section 57-19-13 is in effect;
(b) a prior effective date has been ordered by the director; or
(c) the director has, prior to that date, notified the applicant of a defect in the registrationapplication.
(2) An applicant may consent to the delay of effectiveness until the director by orderdeclares the registration to be effective.
(3) Notwithstanding Section 57-19-4, the division may grant a temporary permit allowingthe developer to begin a sales program while the registration is in process. To obtain a temporarypermit, the developer shall:
(a) submit an application to the division for a temporary permit in the form required bythe division;
(b) submit a substantially complete application for registration to the division, includingall appropriate fees and exhibits required under Section 57-19-5, plus a temporary permit fee of$100;
(c) provide evidence acceptable to the division that all funds received by the developer ormarketing agent will be placed into an independent escrow with instructions that funds will not bereleased until a final registration has been granted;
(d) give to each purchaser and potential purchaser a copy of the proposed property reportthat the developer has submitted to the division with the initial application; and
(e) give to each purchaser the opportunity to cancel the purchase in accordance withSection 57-19-12. The purchaser shall have an additional opportunity to cancel upon the issuanceof an approved registration if the division determines that there is a substantial difference in thedisclosures contained in the final property report and those given to the purchase in the proposedproperty report.

Amended by Chapter 86, 2000 General Session