Utah Admin. Code R850-80-400 - Deposits on Nominated Parcels
(1) If
the director evaluates a parcel of trust lands for sale due to a nomination by
an interested party, the agency may require the nominator to deposit funds to
offset the costs incurred by the agency to prepare the parcel for
sale.
(2) If the nominator
purchases the parcel, the agency shall credit the deposit against those costs
and fees charged by the agency pursuant to
R850-80-610(4)
and
R850-80-620(4).
(3) If the agency does not offer the subject
parcel for sale or if the nominator submits a credible bid on the subject
parcel but is not the successful bidder, the agency shall refund the deposit to
the nominator. A bid less than a disclosed minimum acceptable purchase price is
not a credible bid.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.