Utah § 70D-3-205 Surety bond requirements.

Utah Statutes

§ 70D-3-205 — Surety bond requirements.

Utah § 70D-3-205

Title 70DFinancial Institution Mortgage Financing Regulation Act

Ch. 70D-3Financial Institution Loan Originator Licensing Act

Part 70D-3-2Licensing Requirements and Procedures

This text of Utah § 70D-3-205 (Surety bond 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. § 70D-3-205 (2026).

Text

(1)(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.

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

(2)The commissioner shall by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, establish minimum surety bonding requirements under this section, except that the requirements shall:

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

(2)(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 regulate

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(1) (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.
(1)(b) If an action is brought against a bond under this chapter, the commissioner may require that another bond be posted.
(2) The commissioner shall by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, establish minimum surety bonding requirements under this section, except that the requirements shall:

(2)(a) reflect the dollar amount of residential mortgage loans originated by a loan originator; and
(2)(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.