Utah Code » Title 61, Chapter 1 — Utah Uniform Securities Act
Utah Code

Utah Code § 61-1-21 (2026)

Penalties for violations

✓ current as of May 2026
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A person is guilty of a third degree felony who willfully violates:
a provision of this chapter except Sections 61-1-1 and 61-1-16;
an order issued under this chapter; or
Section 61-1-16 knowing the statement made is false or misleading in a material respect.
Subject to the other provisions of this section, a person who willfully violates Section 61-1-1:
is guilty of a third degree felony if, at the time the crime was committed, the property, money, or thing unlawfully obtained or sought to be obtained was worth less than $10,000; or
is guilty of a second degree felony if, at the time the crime was committed, the property, money, or thing unlawfully obtained or sought to be obtained was worth $10,000 or more.
A person who willfully violates Section 61-1-1 is guilty of a second degree felony if:
at the time the crime was committed, the property, money, or thing unlawfully obtained or sought to be obtained was worth less than $10,000; and
in connection with that violation, the violator knowingly accepted any money representing:
equity in a person's primary residence;
a withdrawal from an individual retirement account;
a withdrawal from a qualified retirement plan as defined in the Internal Revenue Code;
an investment by a person over whom the violator exercises undue influence; or
an investment by a person that the violator knows is a vulnerable adult.
A person who willfully violates Section 61-1-1 is guilty of a second degree felony punishable by imprisonment for an indeterminate term of not less than three years or more than 15 years if:
at the time the crime was committed, the property, money, or thing unlawfully obtained or sought to be obtained was worth $10,000 or more; and
in connection with that violation, the violator knowingly accepted any money representing:
equity in a person's primary residence;
a withdrawal from an individual retirement account;
a withdrawal from a qualified retirement plan as defined in the Internal Revenue Code;
an investment by a person over whom the violator exercises undue influence; or
an investment by a person that the violator knows is a vulnerable adult.
When amounts of property, money, or other things are unlawfully obtained or sought to be obtained under a series of acts or continuing course of business, whether from the same or several sources, the amounts may be aggregated in determining the level of offense.
It is an affirmative defense under this section against a claim that the person violated an order issued under this chapter for the person to prove that the person had no knowledge of the order.
In addition to any other penalty for a criminal violation of this chapter, the sentencing judge may impose a penalty or remedy provided for in Subsection 61-1-20(2)(b).
Notes of Decisions
Cited in 39 cases (23 in the last 5 years), 1938–2021 · leading case: State v. Larsen, 865 P.2d 1355 (Utah 1993).
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State v. Larsen, 865 P.2d 1355 (Utah 1993). · cites it 12× “Utah Code Ann. § 61-1-21 . Section 61-1-21 provides in pertinent part: Any person who willfully violates any provision of this chapter [including section 61-1-1(2) ] .”
State v. Bushman, 2010 UT App 120 (Utah Ct. App. 2010). · cites it 12× “See Utah Code Ann. § 61-1-21 (imposing criminal penalties only for willful or knowing acts).”
Fibro Trust, Inc. v. Brahman Fin., Inc., 1999 UT 13 (Utah 1999). · cites it 12× “” Utah Code Ann. § 61-1-21 (1997) (emphasis added).”
State v. Johnson, 2009 UT App 382 (Utah Ct. App. 2009). · cites it 7× “Johnson filed a renewed motion for new trial on November 14, 2007, alleging that new evidence obtained at the restitution hearing demonstrated that the farm property was not worth $10,000, as required to obtain a second degree felony securities fraud conviction under section See…”
State v. Moore, 2015 UT App 112 (Utah Ct. App. 2015). · cites it 10× “See Utah Code Ann. § 61-1-21 (LexisNexis 2011).”
State v. Chapman, 2014 UT App 255 (Utah Ct. App. 2014). · cites it 5× “3 (Utah 1993) (interpreting the willfulness requirement in section 61-1-21 of the securities fraud statute).”
Green v. Turner, 2000 UT 54 (Utah 2000). · cites it 6× “Penalties for violation of that seetion were in turn prescribed by section 61-1-21, which at that time imposed eriminal liability for "[alny person who willfully violates any provision of this chapter.”
State v. Harry, 873 P.2d 1149 (Utah Ct. App. 1994). · cites it 4× “6 The court noted that although section 61-1-21 subjects a person to a fine or imprisonment for “willfully” violating the securities fraud chapter, 7 that language does not indicate a requirement of scienter for a securities fraud conviction.”
State v. Moore, 802 P.2d 732 (Utah Ct. App. 1990). · cites it 2× “The statute of limitations for violations of the Utah Uniform Securities Act, contained in Utah Code Ann. § 61-1-21 (Supp.1990), provides: "No indictment or information may be returned or complaint filed under this chapter more than five years after the alleged violation.”
State v. Wallace, 2005 UT App 434 (Utah Ct. App. 2005). “§ 61-1-21(1), (2) (Supp.2002). While the UUSA does not define “willfully,” Utah’s Criminal Code states that a person engages in conduct willfully “when it is his conscious objective or desire to engage in the conduct or cause the result.”
State v. Larsen, 828 P.2d 487 (Utah Ct. App. 1992). · cites it 2× “” Utah Code Ann. § 61-1-21 (1990) (emphasis added).”
State v. Candedo, 2008 UT App 4 (Utah Ct. App. 2008). · cites it 3× “1, § 61-1-21, 2001 Utah Laws 753 , 753 (codified as amended at Utah Code Ann. § 61-1-21 (2006)). 2 . In 1989, section 77-18-1 was amended — notably, "shall” became "may" — as discussed in State v.”
Show all 39 citing cases →
— Utah Code § 61-1-21(1) — 1 case
State v. Wallace, 2005 UT App 434 (Utah Ct. App. 2005). “§ 61-1-21(1), (2) (Supp.2002). While the UUSA does not define “willfully,” Utah’s Criminal Code states that a person engages in conduct willfully “when it is his conscious objective or desire to engage in the conduct or cause the result.”
— Utah Code § 61-1-21(2)(b) — 2 cases
State v. Johnson, 2009 UT App 382 (Utah Ct. App. 2009). “Johnson filed a renewed motion for new trial on November 14, 2007, alleging that new evidence obtained at the restitution hearing demonstrated that the farm property was not worth $10,000, as required to obtain a second degree felony securities fraud conviction under section See…”
State v. Chapman, 2014 UT App 255 (Utah Ct. App. 2014). “3 (Utah 1993) (interpreting the willfulness requirement in section 61-1-21 of the securities fraud statute).”
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