{"data":{"id":"us-ut/utah-code-13-42-114","jurisdiction":"us-ut","citation":"Utah Code § 13-42-114","heading":"Bond required -- Substitute.","body":"(1) Instead of the surety bond required by Section 13-42-113, a provider, with the approval of the division and in the amount required by Subsection (2), may deliver to the division:\n(a) an irrevocable letter of credit, issued or confirmed by a bank the division approves, payable on presentation of a certificate by the division stating that the provider or the provider's agent has not complied with this chapter; or\n(b) bonds or other obligations of the United States or guaranteed by the United States or bonds or other obligations of this state or a political subdivision of this state, to be:\n(i) deposited and maintained with a bank the division approves for this purpose; and\n(ii) delivered by the bank to the division on presentation of a certificate by the division stating that the provider or provider's agent has not complied with this chapter.\n(2) If a provider furnishes a substitute in accordance with Subsection (1), Subsections 13-42-113(1), (3), (4), and (5) apply to the substitute.","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-S114.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"b80bb785bfd695c859e43e25ad001de1300967a14f6621958edfd4ce294e8cdd","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-13-42-113","next":"us-ut/utah-code-13-42-115"},"notice":"GroundRules: Original legal text. Not legal advice."}