Utah Statutes
§ 13-34-202 — Surety requirements.
Utah·Title 13 Commerce and Trade·Ch. 13-34 Utah Postsecondary School and State Authorization Act·Part 13-34-2 Postsecondary School Responsibilities
(1)A postsecondary school required to obtain a registration certificate in accordance with this chapter shall maintain, in a form and amount approved by the division:
(1)(a) a surety bond;
(1)(b) a certificate of deposit;
(1)(c) an irrevocable letter of credit; or
(1)(d) other proof of financial viability specified in rules the division makes under Section 13-34-103.
(2)The surety bond, certificate of deposit, or irrevocable letter of credit shall be used as protection against loss of unearned tuition, tuition paid for credits that a student earned but that are not transferrable to a comparable postsecondary school, book fees, supply fees, or equipment fees:
(2)(a) collected by the postsecondary school from a student or another person on a student's behalf; or
(2)(b) that the student i
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Legislative History
Enacted by Chapter 458, 2023 General Session
Nearby Sections
15
§ 13-1-15
Exemptions from licensure.§ 13-1-18
License by endorsement.§ 13-1-2
Creation and functions of department -- Divisions created -- Fees -- Commerce Service Account.§ 13-1-3
Executive director.§ 13-1-4
Centralization of duties.§ 13-1-6
Rules and regulations.§ 13-1-7
Budgets.§ 13-1-8
Annual report.§ 13-1-8.5
Procedures -- Adjudicative proceedings.§ 13-10-1
Title of chapter.§ 13-10-2
Purpose of chapter.