Utah § 59-1-1308 - Material advisor penalties.
Full text of Utah Utah Code § 59-1-1308 — Material advisor penalties., with citation guidance and answers to common questions.
§ 59-1-1308. Material advisor penalties.
| (1) | The penalty for failure of a material advisor to disclose a reportable transaction as required by Section 59-1-1306 is $20,000. |
| (2) | If a material advisor that is required to disclose a reportable transaction in accordance with Section 59-1-1306 provides false or incomplete information to the commission, the penalty is $20,000. |
| (3) | If a material advisor that is required to maintain a list under Section 59-1-1307 fails to make that list available to the commission within a 20-day period after the day on which the commission mails a written request for that list, the material advisor is subject to a penalty of $10,000 for each day that the material advisor fails to make that list available to the commission after the expiration of the 20-day period. |
| (4) | A penalty imposed by this section is in addition to any other penalty imposed by this title. |
Enacted by Chapter 237, 2006 General Session
Frequently Asked Questions About Utah § 59-1-1308
What does Utah Code § 59-1-1308 cover?
Section 59-1-1308 ("Material advisor penalties.") is part of the Utah Code, the codified statutory law of Utah. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Utah § 59-1-1308?
A common citation format is "Utah Code § 59-1-1308" (Utah). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Utah law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Utah official source linked on this page or consult a licensed Utah attorney.
How does Utah § 59-1-1308 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Utah can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Utah.