Section 402 – Investigations — Disciplinary actions.

• (1) The division may conduct a public or private investigation within or outside of this state as the division considers necessary to determine whether a person has violated, is violating, or is about to violate this chapter or any rule or order under this chapter.

• (2) To aid in the enforcement of this chapter or in the prescribing of rules and forms under this chapter, the division may require or permit a person to file a statement in writing, under oath or otherwise as to the facts and circumstances concerning the matter to be investigated.

• (3) For the purpose of the investigation described in Subsection (1), the division or an employee designated by the division may:
  • (a) administer an oath or affirmation;
  • (b) issue a subpoena that requires:
    • (i) the attendance and testimony of a witness; or
    • (ii) the production of evidence;
  • (c) take evidence;
  • (d) require the production of a book, paper, contract, record, other document, or information relevant to the investigation; and
  • (e) serve a subpoena by certified mail.

• (4)
  • (a) A court of competent jurisdiction shall enforce, according to the practice and procedure of the court, a subpoena issued by the division.
  • (b) The division shall pay any witness fee, travel expense, mileage, or any other fee required by the service statutes of the state where the witness or evidence is located.

• (5)
  • (a) Except as provided in Subsections (5)(b) and (c), the division shall commence a disciplinary action under this chapter no later than the earlier of the following:
    • (i) four years after the day on which the violation is reported to the division; or
    • (ii) 10 years after the day on which the violation occurred.
  • (b) Except as provided in Subsection (5)(c), the division shall commence a disciplinary action within four years after the day on which a violation occurred, if the violation was of:
    • (i) Section 61-2f-206;
    • (ii) Subsection 61-2f-401(8), which prohibits failure to voluntarily furnish a copy of a document to the parties before and after the execution of a document; or
    • (iii) Subsection 61-2f-401(18), which prohibits failure to respond to a division request in an investigation within 10 days after the day on which the request is served.
  • (c) The division may commence a disciplinary action under this chapter after the time period described in Subsection (5)(a) or (b) expires if:
    • (i)
      • (A) the disciplinary action is in response to a civil or criminal judgment or settlement; and
      • (B) the division initiates the disciplinary action no later than one year after the day on which the judgment is issued or the settlement is final; or
    • (ii) the division and the person subject to a disciplinary action enter into a written stipulation to extend the time period described in Subsection (5)(a) or (b).

Amended by Chapter 204, 2022 General Session