61-2c-501.5 - Definitions.
61-2c-501.5. Definitions.
As used in this part:
(1) "Civil judgment" means a judgment in a civil action that:
(a) is awarded in an action brought against a real estate licensee on the basis of fraud,misrepresentation, or deceit in a residential mortgage loan transaction; and
(b) awards actual damages.
(2) "Criminal restitution judgment" means a judgment that, in accordance with the UtahCode of Criminal Procedure, orders criminal restitution to a person and against a real estatelicensee for a criminal offense involving fraud, misrepresentation, or deceit in a residentialmortgage loan transaction.
(3) "Final judgment" means one of the following judgments upon termination of theproceedings related to the judgment, including appeals:
(a) a civil judgment; or
(b) a criminal restitution judgment.
(4) "Fund" means the Residential Mortgage Loan Education, Research, and RecoveryFund created in Section 61-2c-501.
Enacted by Chapter 379, 2010 General Session