Bond required -- Substitute.
Utah Code § 13-42-114
in effect13-42-114. Bond required -- Substitute.
(1) Instead of the surety bond required by Section 13-42-113, a provider, with the approval of the division and in the amount required by Subsection (2), may deliver to the division:
(a) an irrevocable letter of credit, issued or confirmed by a bank the division approves, payable on presentation of a certificate by the division stating that the provider or the provider's agent has not complied with this chapter; or
(b) bonds or other obligations of the United States or guaranteed by the United States or bonds or other obligations of this state or a political subdivision of this state, to be:
(i) deposited and maintained with a bank the division approves for this purpose; and
(ii) delivered by the bank to the division on presentation of a certificate by the division stating that the provider or provider's agent has not complied with this chapter.
(2) If a provider furnishes a substitute in accordance with Subsection (1), Subsections 13-42-113(1), (3), (4), and (5) apply to the substitute.
Amended by Chapter 95, 2026 General Session
Source: Utah Office of Legislative Research and General Counsel (le.utah.gov)URL: https://le.utah.gov/xcode/Title13/Chapter42/13-42-S114.html?v=C13-42-S114_2026050620260506Fetched: 10/26/2026