There is created an expendable special revenue fund called the “Residence Lien Recovery Fund.”
Need help reviewing a real estate contract? Have it reviewed by a lawyer, get answers to your questions and move forward with confidence. Connect with a lawyer now
Terms Used In Utah Code 38-11-201
Lien: A claim against real or personal property in satisfaction of a debt.
State: when applied to the different parts of the United States, includes a state, district, or territory of the United States. See Utah Code 68-3-12.5
(2)
The fund shall earn interest.
(3)
The division shall employ personnel and resources necessary to administer the fund and shall use fund money in accordance with Sections 38-11-203 and 38-11-204 and to pay the costs charged to the fund by the attorney general.
(4)
Costs incurred by the division, on or after May 8, 2018, for administering the fund may be paid out of fund money in an amount that may be no more than a total of $300,000 for the remaining existence of the fund.
(5)
(a)
The Division of Finance shall report annually to the Legislature and the division.
