State Codes and Statutes
Statutes > Utah > Title-61 > Chapter-02f > 61-2f-40361-2f-403. Mishandling of trust money.
(1) The division may audit principal brokers' trust accounts or other accounts in which alicensee maintains trust money under this chapter. If the division's audit shows, in the opinion ofthe division, gross mismanagement, commingling, or misuse of money, the division, with theconcurrence of the commission, may order a complete audit of the account by a certified publicaccountant at the licensee's expense, or take other action in accordance with Section 61-2f-404.
(2) The licensee may obtain agency review by the executive director or judicial review ofany division order.
(3) (a) If it appears that a person has grossly mismanaged, commingled, or otherwisemisused trust money, the division, with or without prior administrative proceedings, may bringan action:
(i) in the district court of the district where:
(A) the person resides;
(B) the person maintains a place of business; or
(C) the act or practice occurred or is about to occur; and
(ii) to enjoin the act or practice and to enforce compliance with this chapter or any rule ororder under this chapter.
(b) Upon a proper showing, a court shall grant injunctive relief or a temporary restrainingorder, and may appoint a receiver or conservator. The division is not required to post a bond inany court proceeding.
Renumbered and Amended by Chapter 379, 2010 General Session
