Utah Code Title 70D. Financial Institution Mortgage Financing Regulation Act § 70D-3-205. Surety bond requirements

(1)(a) To be licensed under this chapter an individual shall be covered by a surety bond that meets the minimum surety bonding requirements required by rule.

(b) If an action is brought against a bond under this chapter, the commissioner may require that another bond be posted.

(a) reflect the dollar amount of residential mortgage loans originated by a loan originator; and

(b) ensure that if in accordance with this chapter a surety bond is posted by an employer or other entity on behalf of an individual, the bond covers the activities of the individual regulated by this chapter.