13-21-104. Surety bond or certificate of deposit -- Not required of agent if obtained by organization.
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/ut/title-13/chapter-21/13-21-104A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 5/6/2026
13-21-104. Surety bond or certificate of deposit -- Not required of agent if obtained by organization.
(1)If a credit services organization obtains a surety bond or certificate of deposit as described in Subsection 13-21-102(1) , a salesperson, agent, or representative who sells the services of that organization is not required to post a separate surety bond or certificate of deposit.
(2)For purposes of this section, a person is a salesperson, agent, or representative of a credit services organization if:
(a)the person does business under the same name as the credit services organization; or
(b)the credit services organization and the issuer of the surety bond or certificate of deposit certify in writing that the surety bond or certificate of deposit covers the person.
Renumbered and Amended by Chapter 95 , 2026 General Session