{"data":{"id":"us-ut/utah-code-13-42-105","jurisdiction":"us-ut","citation":"Utah Code § 13-42-105","heading":"Application for registration -- Form, fee, and accompanying documents.","body":"(1) An application for registration as a provider shall be in a form the division approves.\n(2) Subject to adjustment of dollar amounts in accordance with Subsection 13-42-132(6), an application for registration as a provider shall be accompanied by:\n(a) the fee the division establishes in accordance with Section 63J-1-504;\n(b) the bond required by Section 13-42-113;\n(c) identification of all trust accounts subject to Section 13-42-122 and an irrevocable consent authorizing the division to review and examine the trust accounts;\n(d) evidence of insurance in the amount of $250,000:\n(i) against the risks of dishonesty, fraud, theft, and other misconduct on the part of the applicant or a director, employee, or agent of the applicant;\n(ii) issued by an insurance company authorized to do business in this state and rated at least A or equivalent by a nationally recognized rating organization the division approves;\n(iii) with a deductible not exceeding $5,000;\n(iv) payable to the applicant and this state for the benefit of the residents of this state, as the applicant's interests may appear; and\n(v) not subject to cancellation by the applicant or the insurer until 60 days after written notice has been given to the division;\n(e) a record consenting to the jurisdiction of this state containing:\n(i) the name, business address, and other contact information of the applicant's registered agent in this state for purposes of service of process; or\n(ii) the appointment of the division as agent of the provider for purposes of service of process; and\n(f) if the applicant is organized as a not-for-profit entity or has obtained tax exempt status under the Internal Revenue Code, 26 U.S.C. Sec. 501, evidence of not-for-profit or tax-exempt status, or both.\n(3)\n(a) The division may waive or reduce the insurance requirement in Subsection (2)(d) if the provider does not:\n(i) maintain control of a trust account or receive money paid by an individual in accordance with a plan for distribution to creditors;\n(ii) make payments to creditors on behalf of individuals;\n(iii) collect fees by means of automatic payment from individuals; and\n(iv) execute any powers of attorney that may be utilized by the provider to collect fees from or expend funds on behalf of an individual.\n(b) A waiver or reduction in insurance requirements the division allows under Subsection (3)(a) shall balance the reduction in risk a provider poses by meeting the requirements of Subsection (2)(d) against any continued need for insurance against employee and director dishonesty.","path":["Title 13 Commerce and Trade","Chapter 13-42 Uniform Debt-Management Services Act"],"source_url":"https://le.utah.gov/xcode/Title13/Chapter42/13-42-S105.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"7cebac1766f10cf9c9df00fbc1d65fbdbaa00f4702ad754455054cac361169aa","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-13-42-104","next":"us-ut/utah-code-13-42-106"},"notice":"GroundRules: Original legal text. Not legal advice."}