1. (1)

   1. (a) A person may not act as a consumer maintenance funding provider in this state without registering with the division.
   2. (b) A person who regularly engages as a commercial maintenance funding provider may not act as a commercial maintenance funding provider in this state without registering with the division.

2. (2) To register as a maintenance funding provider, a person shall submit to the division an application for registration:

   1. (a) in the manner the division determines; and

   2. (b) that includes:

      1. (i) an application fee in an amount the division determines in accordance with Sections 13-1-2 and 63J-1-504; and
      2. (ii) anything else the division requires as established in rule the division makes in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
3. (3) A registration of a consumer maintenance funding provider under this chapter is effective for one year after the day on which the division issues the registration.

4. (4) Each year a maintenance funding provider shall renew the maintenance funding provider's registration by submitting to the division an application for registration renewal:

   1. (a) in the manner the division determines; and

   2. (b) that includes:

      1. (i) an application fee in an amount determined by the division in accordance with Sections 13-1-2 and 63J-1-504; and
      2. (ii) anything else the division requires as established in rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act.
5. (5) To renew a consumer maintenance funding provider registration in accordance with this section, a consumer maintenance funding provider shall submit a registration renewal application to the division at least 30 days before the day on which the consumer maintenance funding provider's registration expires.
6. (6) A consumer maintenance funding provider shall update registration information within 30 days after the day on which information the consumer maintenance funding provider provides on the application becomes incorrect or incomplete.

Amended by Chapter 121, 2026 General Session