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Current as of May 05, 2022 | Updated by FindLaw Staff
(1) If a credit services organization has obtained a bond, letter of credit, or certificate of deposit as set forth in Subsection 13-21-3(1) a salesperson, agent, or representative who sells the services of that organization is not required to post his own separate bond, letter of credit, or certificate of deposit.
(2) As used in this section, a person is not a salesperson, agent, or representative of a credit services organization unless:
(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 bond or letter of credit certify in writing that the bond or letter of credit covers the person.
Cite this article: FindLaw.com - Utah Code Title 13. Commerce and Trade § 13-21-4. Bond, letter of credit, or certificate of deposit--Not required of agent if obtained by organization - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-13-commerce-and-trade/ut-code-sect-13-21-4/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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