According to Utah law, what is the maximum fee for the recovery fund that can be assessed to an individual licensee?

Under Utah law, the maximum fee for the recovery fund that can be assessed to an individual licensee is $18. This fee is specifically established to support the recovery fund, which is designed to provide compensation to consumers who have been harmed by the misconduct of licensed mortgage professionals. The fee is a regulatory measure ensuring that funds are available to protect consumers in the event that licensed individuals do not meet their financial obligations.

The amount of $18 reflects a standard set by the state to balance the needs of consumer protection with the financial burdens placed on licensees. This helps maintain the integrity of the lending process in Utah while also providing necessary resources for remediation in cases of malpractice or misconduct. Understanding this fee is vital for licensees as it directly impacts compliance and financial planning within their operations.