58-55-306 - Financial responsibility. - Utah Statutes

58-55-306. Financial responsibility.
(1) An applicant for licensure as a contractor, and a licensee applying for renewal orreinstatement of a contractor's license shall demonstrate to the division and the commission theapplicant's or licensee's financial responsibility before the issuance of or the renewal orreinstatement of a license by:
(a) (i) completing a questionnaire developed by the division; and
(ii) signing the questionnaire, certifying that the information provided is true and accurate;or
(b) submitting a bond in an amount and form determined by the commission with theconcurrence of the director.
(2) The division may audit an applicant's or licensee's demonstration of financialresponsibility on a random basis or upon finding of a reasonable need.
(3) The burden to demonstrate financial responsibility is upon the applicant or licensee.

Amended by Chapter 241, 2002 General Session