Section 203 – Annual reports.

• (1) On or before April 1 of each year, a maintenance funding provider registered in accordance with Section 13-57-201 shall file a report:
  • (a) under oath;
  • (b) with the director; and
  • (c) in a form the director prescribes.

• (2) The report described in Subsection (1) shall include, for the preceding calendar year:
  • (a) the number of maintenance funding agreements entered into by the maintenance funding provider;
  • (b) the total dollar amount of legal funding the maintenance funding provider provided;
  • (c) the total dollar amount of charges under each maintenance funding agreement, itemized and including the annual rate of return;
  • (d) the total dollar amount and number of maintenance funding transactions in which the realized profit to the company was as contracted in the maintenance funding agreement;
  • (e) the total dollar amount and number of maintenance funding transactions in which the realized profit to the company was less than contracted; and
  • (f) any other information the director requires concerning the maintenance funding provider’s business or operations in the state.

Enacted by Chapter 118, 2020 General Session