Utah Admin. Code R152-23-8 - Bond, Irrevocable Letter of Credit, or Certificate of Deposit
(1) The surety required by Section
13-23-5(2) shall
be provided to the Division not less than thirty (30) days in advance of any
advanced sales by any health spa. Annual renewals of such Bonds, Irrevocable
Letters of Credit, or Certificates of Deposit shall be filed with the Division
not less than thirty (30) days in advance of expiration of existing Bonds,
Irrevocable Letters of Credit, or Certificates of Deposit.
(2) The Division shall have the right to
approve or reject Bonds, Irrevocable Letters of Credit, or Certificates of
Deposit submitted to the Division. In the event a Bond, Irrevocable Letter of
Credit, or Certificate of Deposit is rejected by the Division, the health spa
shall submit another surety within fifteen (15) days following notice by the
Division. In no event shall a health spa operate without having a Bond,
Irrevocable Letter of Credit, or Certificate of Deposit in effect or
establishing an exemption pursuant to Section
13-23-6.
(3) In addition to consumer refunds, the
Division shall be entitled to recover from the surety proceeds all of its costs
and fines as allowed by Sections
13-23-5(2)(c) and
(e).
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.