Utah § 2f-503 - Real Estate Education, Research, and Recovery Fund.

Full text of Utah Utah Code § 2f-503 — Real Estate Education, Research, and Recovery Fund., with citation guidance and answers to common questions.

§ 2f-503. Real Estate Education, Research, and Recovery Fund.

61-2f-503.  Real Estate Education, Research, and Recovery Fund.
(1)
(a) There is created an expendable special revenue fund known as the "Real Estate Education, Research, and Recovery Fund."
(b) The actual interest earned on the fund shall be deposited into the fund.
(2) The money in the fund includes:
(a) a fee imposed under Section 61-2f-505; and
(b) interest described in Subsection (1)(b).
(3) The division shall administer the fund to:
(a) reimburse the public for damages caused in a real estate transaction by an individual licensed under this chapter; and
(b) in accordance with Section 61-2f-504:
(i) investigate violations of this chapter related to fraud, misrepresentation, or deceit; or
(ii) provide revenue for improving the real estate profession through education and research with the goal of making licensees more responsible to the public.
(4) This part applies to damages caused by an individual licensee. Reimbursement may not be made for a final judgment against an entity.
(5) At the beginning of each fiscal year, the division shall make available $100,000 in the fund to satisfy final judgments rendered against a person licensed under this chapter.


Amended by Chapter 400, 2013 General Session

Source: official Utah text · Last verified 2026-08-27

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Frequently Asked Questions About Utah § 2f-503

What does Utah Code § 2f-503 cover?

Section 2f-503 ("Real Estate Education, Research, and Recovery Fund.") 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 § 2f-503?

A common citation format is "Utah Code § 2f-503" (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 § 2f-503 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.