Utah Code 57-19-5. Registration — Filing application

(1)

A person may apply for registration of a development by filing with the division:

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Terms Used In Utah Code 57-19-5

Consolidation: means the registration of one or more additional sites or interests in a development after the division approves the development's registration. See Utah Code 57-19-2
Development: includes :

(i)	a single-site development; or

(ii)

a multiple-site development. See Utah Code 57-19-2

Director: means the director of the division. See Utah Code 57-19-2

Division: means the Division of Real Estate of the Department of Commerce. See Utah Code 57-19-2

Interest: includes a membership agreement, sale, lease, deed, license, or right-to-use agreement. See Utah Code 57-19-2

Lien: A claim against real or personal property in satisfaction of a debt.

Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

Person: means :Utah Code 68-3-12.5

Purchaser: means a person who purchases an interest in a development. See Utah Code 57-19-2

Registration: means :

(a)	for a development, an approved application for registration described in Section 57-19-5; or

(b)	for a salesperson, an approved application for registration described in Section 57-19-15. See Utah Code 57-19-2 Site: includes a geographic location where one or more camping sites or accommodations are located that is constructed in phases and is under common management. See Utah Code 57-19-2
(a)	an application in the form prescribed by the director;

(b)	the written disclosure described in Section 57-19-11; and

(c)

financial statements and other information that the director may by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, require as being reasonably necessary to determine whether the requirements of this chapter have been met and whether any of the events specified in Subsection 57-19-13(2)(g) have occurred.

(2)

An interest in a development that is encumbered by a lien, mortgage, or other encumbrance may not be accepted for registration or offered to the public unless:

(a)	adequate release or nondisturbance clauses are contained in the encumbering instruments to reasonably assure that the purchaser‘s interest in the development will not be defeated; or

(b)	the division accepts other equivalent assurances that, in the division’s opinion, meet the purposes of this Subsection (2).

(3)

(a)	A person who applies for a development registration shall include with the application a filing fee of $500 for up to 100 interests, plus an additional $3 per interest for each interest over 100, up to a maximum of $2,500 for each application.

(b)	If the division determines that an on-site inspection of the development is necessary, the development shall pay the division the actual amount of the costs and expenses incurred by the division in performing the on-site inspection.

(4)

A person may add an additional site or interest to an approved development registration by:

(a)	filing an application for consolidation accompanied by an additional fee of $200 plus $3 for each additional interest, up to a maximum of $1,250 for each application; and

(b)	providing the information required under Subsection (1) for each additional site or interest.

Amended by Chapter 281, 2018 General Session

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