13-42-105 - Application for registration -- Form, fee, and accompanying documents. - Utah Statutes

13-42-105. Application for registration -- Form, fee, and accompanyingdocuments.
(1) An application for registration as a provider shall be in a form prescribed by theadministrator.
(2) Subject to adjustment of dollar amounts pursuant to Subsection 13-42-132(6), anapplication for registration as a provider shall be accompanied by:
(a) the fee established by the administrator in accordance with Section 63J-1-504;
(b) the bond required by Section 13-42-113;
(c) identification of all trust accounts required by Section 13-42-122 and an irrevocableconsent authorizing the administrator to review and examine the trust accounts;
(d) evidence of insurance in the amount of $250,000:
(i) against the risks of dishonesty, fraud, theft, and other misconduct on the part of theapplicant or a director, employee, or agent of the applicant;
(ii) issued by an insurance company authorized to do business in this state and rated atleast A or equivalent by a nationally recognized rating organization approved by theadministrator;
(iii) with a deductible not exceeding $5,000;
(iv) payable for the benefit of the applicant, this state, and individuals who are residentsof this state, as their interests may appear; and
(v) not subject to cancellation by the applicant or the insurer until 60 days after writtennotice has been given to the administrator;
(e) a record consenting to the jurisdiction of this state containing:
(i) the name, business address, and other contact information of its registered agent inthis state for purposes of service of process; or
(ii) the appointment of the administrator as agent of the provider for purposes of serviceof process; and
(f) if the applicant is organized as a not-for-profit entity or is exempt from taxation,evidence of not-for-profit and tax-exempt status applicable to the applicant under the InternalRevenue Code, 26 U.S.C. Section 501.
(3) (a) The administrator may waive or reduce the insurance requirement in Subsection13-42-105(2)(d) if the provider does not:
(i) maintain control of a trust account or receive money paid by an individual pursuant toa plan for distribution to creditors;
(ii) make payments to creditors on behalf of individuals;
(iii) collect fees by means of automatic payment from individuals; and
(iv) execute any powers of attorney that may be utilized by the provider to collect feesfrom or expend funds on behalf of an individual.
(b) A waiver or reduction in insurance requirements allowed by the administrator underSubsection (3)(a) shall balance the reduction in risk posed by a provider meeting the statedrequirements against any continued need for insurance against employee and director dishonesty.

Amended by Chapter 378, 2010 General Session