Utah § 13-34-202 Surety requirements.

Utah Statutes

§ 13-34-202 — Surety requirements.

Utah § 13-34-202

Title 13Commerce and Trade

Ch. 13-34Utah Postsecondary School and State Authorization Act

Part 13-34-2Postsecondary School Responsibilities

This text of Utah § 13-34-202 (Surety requirements.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 13-34-202 (2026).

Text

(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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(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 is obligated to pay.
(3) A surety bond, certificate of deposit, or irrevocable letter of credit obtained in accordance with this section may not expire:

(3)(a) earlier than 60 days after the first day on which no student is enrolled in the postsecondary school; and
(3)(b) while students are enrolled in the postsecondary school.