13-42-105. Application for registration -- Form, fee, and accompanying
documents.
(1) An application for registration as a provider must be in a form prescribed by the
administrator.
(2) Subject to adjustment of dollar amounts pursuant to Subsection 13-42-132(6), an
application for registration as a provider must be accompanied by:
(a) the fee established by the administrator in accordance with Section 63J-1-504;
(b) the bond required by Section 13-42-113;
(c) identification of all trust accounts required by Section 13-42-122 and an irrevocable
consent authorizing the administrator to review and examine the trust accounts;
(d) evidence of insurance in the amount of $250,000:
(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;
(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 approved by the
administrator;
(iii) with a deductible not exceeding $5,000;
(iv) payable for the benefit of the applicant, this state, and individuals who are residents
of this state, as their interests may appear; and
(v) not subject to cancellation by the applicant or the insurer until 60 days after written
notice has been given to the administrator;
(e) a record consenting to the jurisdiction of this state containing:
(i) the name, business address, and other contact information of its registered agent in
this state for purposes of service of process; or
(ii) the appointment of the administrator as agent of the provider for purposes of service
of process; and
(f) if the applicant is organized as a not-for-profit entity or is exempt from taxation,
evidence of not-for-profit and tax-exempt status applicable to the applicant under the Internal
Revenue Code, 26 U.S.C. Section 501.
(3) (a) The administrator may waive or reduce the insurance requirement in Subsection
13-42-105(2)(d) if the provider does not:
(i) maintain control of a trust account or receive money paid by an individual pursuant to
a plan for distribution to creditors;
(ii) make payments to creditors on behalf of individuals;
(iii) collect fees by means of automatic payment from individuals; and
(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.
(b) A waiver or reduction in insurance requirements allowed by the administrator under
Subsection (3)(a) shall balance the reduction in risk posed by a provider meeting the stated
requirements against any continued need for insurance against employee and director dishonesty.
Amended by Chapter 183, 2009 General Session
Amended by Chapter 229, 2009 General Session
Download Code Section Zipped WordPerfect 13_42_010500.ZIP 3,653 Bytes
Sections in this Chapter|Chapters in this Title|All Titles|Legislative Home Page
Last revised: Thursday, May 28, 2009