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Utah Code Title 13. Commerce and Trade § 13-68-204. Bonds--Exemption--Statements dependent on posting bond

Current as of May 05, 2022 | Updated by FindLaw Staff

(1) A lawyer referral consultant shall post a cash bond or surety bond:

(a) in the amount of $50,000; and

(b) payable to the division for the benefit of any person damaged by any of the following acts that a lawyer referral consultant or the lawyer referral consultant's agent, representative, or employee commits:

(i) fraud;

(ii) misstatement;

(iii) misrepresentation;

(iv) unlawful act;

(v) omission; or

(vi) failure to provide lawyer referral services.

(2) A bond under this section shall be:

(a) in a form approved by the division;

(b) conditioned upon the faithful compliance of a lawyer referral consultant with this chapter and division rules; and

(c) maintained at all times while the lawyer referral consultant provides lawyer referral services.

(3) A lawyer referral consultant shall keep the bond required under this section in force for one year after:

(a) the lawyer referral consultant's registration expires; or

(b) the lawyer referral consultant notifies the division in writing that the lawyer referral consultant has ceased all activities regulated under this chapter.

(4)(a) If a surety bond posted by a lawyer referral consultant under this section is canceled due to the lawyer referral consultant's negligence, the division may assess a $300 reinstatement fee.

(b) No part of a bond posted by a lawyer referral consultant under this section may be withdrawn:

(i) during the one-year period the registration under this chapter is in effect; or

(ii) while a revocation proceeding is pending against the lawyer referral consultant.

(5)(a) A bond posted under this section by a lawyer referral consultant may be forfeited if the lawyer referral consultant's registration under this chapter is revoked.

(b) Notwithstanding Subsection (5)(a), the division may make a claim against a bond posted by a lawyer referral consultant for money owed to the division under this chapter without the division first revoking the lawyer referral consultant's registration.

(6) An individual may not disseminate by any means a statement indicating that the individual is a lawyer referral consultant, or proposes to engage in the business of a lawyer referral consultant, unless the individual has posted a bond under this section that is maintained throughout the period covered by the statement.

(7) A lawyer referral consultant may not make or authorize the making of an oral or written reference to the lawyer referral consultant's compliance with the bonding requirements of this section except as provided in this section.

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Cite this article: FindLaw.com - Utah Code Title 13. Commerce and Trade § 13-68-204. Bonds--Exemption--Statements dependent on posting bond - last updated May 05, 2022 | https://codes.findlaw.com/ut/title-13-commerce-and-trade/ut-code-sect-13-68-204/

Read this complete Utah Code Title 13. Commerce and Trade § 13-68-204. Bonds--Exemption--Statements dependent on posting bond on Westlaw. Westlaw subscription required.

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