(1)  If the commission determines to make an award under Section 61-1-106, the commission shall make the award in accordance with a procedure adopted by the division by rule.

Terms Used In Utah Code 61-1-107

  • Adjudicative proceeding: means :Utah Code 68-3-12.5
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Commission: means the Securities Commission created in Section 61-1-18. See Utah Code 61-1-13
  • Contract: A legal written agreement that becomes binding when signed.
  • Division: means the Division of Securities established by Section 61-1-18. See Utah Code 61-1-13
  • Person: means :
(i) an individual;
(ii) a corporation;
(iii) a partnership;
(iv) a limited liability company;
(v) an association;
(vi) a joint-stock company;
(vii) a joint venture;
(viii) a trust where the interests of the beneficiaries are evidenced by a security;
(ix) an unincorporated organization;
(x) a government; or
(xi) a political subdivision of a government. See Utah Code 61-1-13
  • Reporter: means an individual who provides original information relating to a violation in accordance with Section 61-1-103. See Utah Code 61-1-102
  • Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
  • (2)  A contract with the commission is not necessary for a reporter to receive an award under Section 61-1-106, unless otherwise required by the division by rule made under Subsection (1).

    (3)  A reporter who makes a claim for an award under this section may hire an attorney to represent the reporter.

    (4) 

    (a)  The commission has discretion when making a determination under this section or Section 61-1-106, including whether, to whom, or in what amount to make an award.

    (b)  In accordance with Title 63G, Chapter 4, Administrative Procedures Act, a person aggrieved by a determination of the commission, except for a determination of the amount of the award, may appeal the determination in the same manner as a formal adjudicative proceeding.

    (5)  This part may not be construed to require the division or commission to compensate a reporter for participation in an investigation, hearing, or inquiry held under this chapter.

    (6)  In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the division shall make the rules described in Subsection (1) and Subsection 61-1-106(3) consistent with this part.

    Enacted by Chapter 318, 2011 General Session