# Utah Code § 70D-3-202: Qualifications for licensure

> Utah · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_202

## Section

- **Citation:** Utah Code § 70D-3-202
- **Heading:** Qualifications for licensure
- **Jurisdiction:** Utah
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Utah Code / Title 70D / Chapter 70D-3 / § 70D-3-202

## Text

To qualify for a license under this chapter an individual shall comply with all of the following, the individual: (1) shall comply with 12 U.S.C. Sec. 5104 to register with and maintain a unique identifier through the nationwide database; (2) may not have had a loan originator license revoked in a governmental jurisdiction; (3) may not have been convicted of, or pled guilty or no contest to, a felony: (a) during the seven years preceding the day on which the individual files an application; or (b) at any time, if the felony involves an act of: (i) fraud; (ii) dishonesty; (iii) breach of trust; or (iv) money laundering; (4) shall demonstrate financial responsibility, character, and general fitness such as to: (a) command the confidence of the community; and (b) warrant a determination that the individual will operate as a loan originator honestly, fairly, and efficiently within the purposes of this chapter; (5) shall be covered by a surety bond posted in accordance with Section 70D-3-205; (6) shall complete the prelicensing education required by Section 70D-3-301; and (7) shall pass the written examination required by Section 70D-3-302.

## Nearby sections

- [Utah Code § 70D-3-101 § 70D-3-101. Title.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_101.md)
- [Utah Code § 70D-3-102 § 70D-3-102. Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_102.md)
- [Utah Code § 70D-3-103 § 70D-3-103. General powers and duties of commissioner.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_103.md)
- [Utah Code § 70D-3-201 § 70D-3-201. Licensing required -- Exemptions.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_201.md)
- [Utah Code § 70D-3-202 § 70D-3-202. Qualifications for licensure.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_202.md)
- [Utah Code § 70D-3-203 § 70D-3-203. Initial licensure procedure.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_203.md)
- [Utah Code § 70D-3-204 § 70D-3-204. Renewal of license.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_204.md)
- [Utah Code § 70D-3-205 § 70D-3-205. Surety bond requirements.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_205.md)
- [Utah Code § 70D-3-206 § 70D-3-206. Challenging information in the nationwide database.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_206.md)
- [Utah Code § 70D-3-301 § 70D-3-301. Prelicensing education.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_301.md)
- [Utah Code § 70D-3-302 § 70D-3-302. Examination.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_302.md)
- [Utah Code § 70D-3-303 § 70D-3-303. Continuing education.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_303.md)
- [Utah Code § 70D-3-401 § 70D-3-401. Record requirements -- Reports of condition.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_401.md)
- [Utah Code § 70D-3-402 § 70D-3-402. Prohibited acts.](https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_402.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_UT_T70D_S70D_3_202. Check the current official text before relying on it. Not legal advice.