Utah Admin. Code R590-222-12 - Reporting of Fraud
(1) A life
settlement licensee that knows or suspects that any person violated or will
violate Section
31A-36-113, shall, upon acquiring
the knowledge, promptly notify the commissioner and provide a complete and
accurate statement of all relevant facts and circumstances.
(2) Any other person acquiring such knowledge
may furnish the information to the commissioner in the same manner.
(3) The fraud report is a protected
communication and when made without actual malice does not subject the person
making the report to liability.
(4)
The commissioner may suspend, revoke, or refuse to renew the license of a
person who fails to comply with this section.
Notes
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