(1) There is created the Residence Lien Recovery Fund Advisory Board consisting of: (a) three individuals licensed as a contractor who are actively engaged in construction on owner-occupied residences; (b) three individuals who are employed in responsible management positions with major suppliers of materials or equipment used in the construction on owner-occupied residences; and (c) one member from the general public who has no interest in the construction on owner-occupied residences, or supply of materials used in the construction on owner-occupied residences.

(a) three individuals licensed as a contractor who are actively engaged in construction on owner-occupied residences;

(b) three individuals who are employed in responsible management positions with major suppliers of materials or equipment used in the construction on owner-occupied residences; and

(c) one member from the general public who has no interest in the construction on owner-occupied residences, or supply of materials used in the construction on owner-occupied residences.

(2) The board shall be appointed and members shall serve their respective terms in accordance with Section 58-1-201.

(3) The duties and responsibilities of the board shall be to: (a) advise the division with respect to informal adjudication of any claim for payment from the fund and any request for a certificate of compliance received by the division; (b) act as the presiding officer, as defined by rule, in formal adjudicative proceedings held before the division with respect to any claim made for payment from the fund; (c) advise the division with respect to: (i) the general operation of the fund; (ii) the amount of any fees required under this chapter; and (iii) the limitation on the fund balance under Section 38-11-206; and (d) review the administrative expenditures made by the division pursuant to Subsection 38-11-201(4) and report its findings regarding those expenditures to the executive director on or before the first Monday of December of each year.

(a) advise the division with respect to informal adjudication of any claim for payment from the fund and any request for a certificate of compliance received by the division;

(b) act as the presiding officer, as defined by rule, in formal adjudicative proceedings held before the division with respect to any claim made for payment from the fund;

(c) advise the division with respect to: (i) the general operation of the fund; (ii) the amount of any fees required under this chapter; and (iii) the limitation on the fund balance under Section 38-11-206; and

(i) the general operation of the fund;

(ii) the amount of any fees required under this chapter; and

(iii) the limitation on the fund balance under Section 38-11-206; and

(d) review the administrative expenditures made by the division pursuant to Subsection 38-11-201(4) and report its findings regarding those expenditures to the executive director on or before the first Monday of December of each year.

(4) The attorney general shall render legal assistance as requested by the board.